Omnicom Group Inc. (NYSE:OMC) Position Reduced by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 7.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 48,627 shares of the business services provider’s stock after selling 3,967 shares during the period. Sequoia Financial Advisors LLC’s holdings in Omnicom Group were worth $5,028,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Resonant Capital Advisors LLC grew its holdings in Omnicom Group by 1.7% during the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock valued at $613,000 after purchasing an additional 97 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Omnicom Group by 17.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after acquiring an additional 97 shares during the last quarter. Iowa State Bank grew its stake in shares of Omnicom Group by 0.4% in the third quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock worth $2,528,000 after acquiring an additional 101 shares during the last quarter. Center For Asset Management LLC grew its stake in shares of Omnicom Group by 2.6% in the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after acquiring an additional 107 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Omnicom Group by 1.1% in the third quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider’s stock worth $1,049,000 after acquiring an additional 113 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Macquarie raised their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Price Performance

Shares of OMC stock opened at $101.03 on Wednesday. The stock has a 50-day moving average price of $100.62 and a 200 day moving average price of $95.41. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.31. The firm has a market cap of $19.79 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 2.39 and a beta of 0.94. Omnicom Group Inc. has a 12 month low of $73.58 and a 12 month high of $106.51.

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

Insider Transactions at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

About Omnicom Group

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.