Sigma Planning Corp Makes New $223,000 Investment in Omnicom Group Inc. (NYSE:OMC)

Sigma Planning Corp bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) during the third quarter, HoldingsChannel.com reports. The firm bought 2,153 shares of the business services provider’s stock, valued at approximately $223,000.

Several other hedge funds also recently made changes to their positions in OMC. Boston Trust Walden Corp raised its holdings in Omnicom Group by 8.2% in the 2nd quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after acquiring an additional 14,153 shares in the last quarter. Central Pacific Bank Trust Division grew its stake in Omnicom Group by 16.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after buying an additional 401 shares in the last quarter. SG Americas Securities LLC increased its holdings in Omnicom Group by 37.0% in the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after buying an additional 17,414 shares during the period. CANADA LIFE ASSURANCE Co raised its position in shares of Omnicom Group by 2.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 238,274 shares of the business services provider’s stock valued at $23,079,000 after buying an additional 5,615 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Omnicom Group by 197.4% during the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after acquiring an additional 84,632 shares during the period. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OMC has been the subject of several recent analyst reports. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Macquarie lifted their target price on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays boosted their target price on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America upped their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Insider Buying and Selling at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the business’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 transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Down 7.8 %

Shares of NYSE OMC opened at $96.86 on Monday. The company has a 50 day simple moving average of $102.16 and a 200 day simple moving average of $96.56. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. Omnicom Group Inc. has a 1 year low of $76.90 and a 1 year high of $107.00. The firm has a market cap of $18.90 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm earned $1.86 earnings per share. On average, research analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current year.

Omnicom Group Company 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.