Old North State Wealth Management LLC Sells 945 Shares of Omnicom Group Inc. (NYSE:OMC)

Old North State Wealth Management LLC lowered its position in Omnicom Group Inc. (NYSE:OMC) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,382 shares of the business services provider’s stock after selling 945 shares during the quarter. Old North State Wealth Management LLC’s holdings in Omnicom Group were worth $2,005,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Omnicom Group in the second quarter valued at $33,000. Innealta Capital LLC bought a new position in Omnicom Group in the second quarter valued at $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group in the third quarter valued at $33,000. Davis Capital Management bought a new position in Omnicom Group in the third quarter valued at $36,000. Finally, HM Payson & Co. increased its stake in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 169 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $101.08 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average of $101.36 and a 200-day moving average of $95.93. The firm has a market cap of $19.72 billion, a P/E ratio of 13.81, a P/E/G ratio of 2.27 and a beta of 0.95. Omnicom Group Inc. has a 1-year low of $74.41 and a 1-year high of $106.51.

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 analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period in the prior year, the business posted $1.86 earnings per share. Sell-side analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction 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 approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction 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 sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Macquarie raised their price objective on Omnicom Group from $110.00 to $120.00 and gave the company 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 price objective for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America raised their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

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.