Eliot Finkel Investment Counsel LLC Sells 1,430 Shares of Omnicom Group Inc. (NYSE:OMC)

Eliot Finkel Investment Counsel LLC trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 2.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,515 shares of the business services provider’s stock after selling 1,430 shares during the quarter. Omnicom Group makes up approximately 4.0% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 13th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Omnicom Group were worth $6,463,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. 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. Norden Group LLC purchased a new stake in shares of Omnicom Group in the first quarter worth about $1,860,000. Central Pacific Bank Trust Division boosted 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 buying an additional 401 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in Omnicom Group during the 1st quarter valued at approximately $1,534,000. Finally, SG Americas Securities LLC increased its stake 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 worth $5,784,000 after acquiring an additional 17,414 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their target price on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group lifted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America increased their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Finally, Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.30.

Insider Transactions at Omnicom Group

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 value of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares in the company, 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 is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Down 0.7 %

Shares of NYSE OMC opened at $104.48 on Friday. Omnicom Group Inc. has a 1 year low of $73.28 and a 1 year high of $106.51. The firm has a 50-day simple moving average of $100.30 and a two-hundred day simple moving average of $95.27. The company has a market cap of $20.46 billion, a P/E ratio of 14.12, a PEG ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

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