Hartford Investment Management Co. Sells 146 Shares of Omnicom Group Inc. (NYSE:OMC)

Hartford Investment Management Co. lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,425 shares of the business services provider’s stock after selling 146 shares during the period. Hartford Investment Management Co.’s holdings in Omnicom Group were worth $1,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of OMC. Jacobs Levy Equity Management Inc. grew its position in shares of Omnicom Group by 319.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock valued at $140,317,000 after purchasing an additional 1,104,566 shares in the last quarter. Bank of New York Mellon Corp grew its position in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after buying an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Omnicom Group during the second quarter worth about $56,177,000. Boston Partners increased its stake in Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after acquiring an additional 383,560 shares during the last quarter. Finally, Scout Investments Inc. purchased a new stake in shares of Omnicom Group in the 1st quarter valued at about $36,715,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America boosted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. UBS Group raised their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Macquarie upped their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $100.52 on Friday. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company has a fifty day moving average of $100.83 and a 200-day moving average of $95.48. 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.

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

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.