Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in Omnicom Group Inc. (NYSE:OMC)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,074 shares of the business services provider’s stock after selling 5,958 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Omnicom Group were worth $36,091,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. CreativeOne Wealth LLC acquired a new stake in shares of Omnicom Group in the third quarter worth approximately $363,000. Townsquare Capital LLC boosted its stake in Omnicom Group by 4.3% during the 3rd quarter. Townsquare Capital LLC now owns 43,064 shares of the business services provider’s stock worth $4,452,000 after purchasing an additional 1,772 shares during the last quarter. Transamerica Financial Advisors Inc. grew its holdings in shares of Omnicom Group by 569.2% during the third quarter. Transamerica Financial Advisors Inc. now owns 10,881 shares of the business services provider’s stock worth $1,125,000 after buying an additional 9,255 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Omnicom Group by 16.3% in the third quarter. BNP Paribas Financial Markets now owns 695,216 shares of the business services provider’s stock valued at $71,878,000 after buying an additional 97,661 shares during the last quarter. Finally, Avestar Capital LLC purchased a new position in shares of Omnicom Group in the third quarter worth about $224,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on OMC shares. Barclays increased their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Macquarie upped their target price on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group raised their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Omnicom Group Trading Down 0.3 %

NYSE OMC opened at $104.35 on Friday. Omnicom Group Inc. has a 52 week low of $78.90 and a 52 week high of $107.00. The firm has a 50 day moving average of $102.42 and a two-hundred day moving average of $97.01. 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 stock has a market capitalization of $20.36 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results 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 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. As a group, research analysts expect that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Insider Activity at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of the firm’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 transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.