Sompo Asset Management Co. Ltd. Buys 130 Shares of Omnicom Group Inc. (NYSE:OMC)

Sompo Asset Management Co. Ltd. raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,870 shares of the business services provider’s stock after purchasing an additional 130 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Omnicom Group were worth $400,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of OMC. Boston Trust Walden Corp grew its stake in Omnicom Group by 8.2% during the second 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 valued at $295,000 after acquiring an additional 401 shares in the last quarter. SG Americas Securities LLC grew its stake in Omnicom Group by 37.0% during the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after acquiring an additional 17,414 shares in the last quarter. Cetera Investment Advisers grew its stake in Omnicom Group by 197.4% during the first quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock valued at $12,338,000 after acquiring an additional 84,632 shares in the last quarter. Finally, Swedbank AB purchased a new position in Omnicom Group during the first quarter valued at approximately $6,223,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OMC. JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. UBS Group boosted their price target 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. Finally, Macquarie boosted their price target 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Trading Up 0.4 %

NYSE:OMC opened at $102.38 on Monday. The company has a fifty day moving average of $102.25 and a 200 day moving average of $96.79. Omnicom Group Inc. has a 52 week low of $78.90 and a 52 week high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $19.98 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.29 and a beta of 0.95.

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

Insiders Place Their Bets

In other news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 14.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.