Mcrae Capital Management Inc. Increases Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Mcrae Capital Management Inc. boosted its position in Omnicom Group Inc. (NYSE:OMC) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 203,724 shares of the business services provider’s stock after acquiring an additional 1,365 shares during the period. Omnicom Group accounts for about 4.1% of Mcrae Capital Management Inc.’s holdings, making the stock its 9th biggest position. Mcrae Capital Management Inc.’s holdings in Omnicom Group were worth $21,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OMC. Diversified Trust Co raised its stake in shares of Omnicom Group by 17.2% in the first quarter. Diversified Trust Co now owns 39,239 shares of the business services provider’s stock worth $3,797,000 after purchasing an additional 5,747 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Omnicom Group in the first quarter worth approximately $1,860,000. First Trust Direct Indexing L.P. raised its stake in shares of Omnicom Group by 9.6% in the first quarter. First Trust Direct Indexing L.P. now owns 5,589 shares of the business services provider’s stock worth $541,000 after purchasing an additional 490 shares during the last quarter. Mezzasalma Advisors LLC purchased a new stake in shares of Omnicom Group in the first quarter worth approximately $348,000. Finally, SpiderRock Advisors LLC purchased a new stake in shares of Omnicom Group in the first quarter worth approximately $421,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the subject of several analyst reports. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Barclays increased their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Bank of America increased their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Insider Activity at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Omnicom Group Trading Up 0.1 %

Shares of Omnicom Group stock opened at $100.52 on Friday. The stock has a market capitalization of $19.69 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.39 and a beta of 0.94. Omnicom Group Inc. has a 52-week low of $73.58 and a 52-week high of $106.51. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock’s 50-day simple moving average is $100.91 and its 200 day simple moving average is $95.54.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. During the same quarter last year, the company earned $1.86 earnings per share. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.88 EPS for the current year.

Omnicom Group Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.