Ffcm LLC decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 10.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 10,422 shares of the business services provider’s stock after selling 1,223 shares during the quarter. Ffcm LLC’s holdings in Omnicom Group were worth $709,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of OMC. Bank of New York Mellon Corp grew its position in shares of Omnicom Group by 1,412,816.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 9,862,157 shares of the business services provider’s stock worth $670,825,000 after buying an additional 9,861,459 shares in the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Omnicom Group during the second quarter valued at about $227,088,000. JPMorgan Chase & Co. boosted its position in Omnicom Group by 219.3% during the third quarter. JPMorgan Chase & Co. now owns 807,640 shares of the business services provider’s stock valued at $54,936,000 after purchasing an additional 554,724 shares in the last quarter. Longview Partners Guernsey LTD boosted its position in Omnicom Group by 8.3% during the third quarter. Longview Partners Guernsey LTD now owns 6,970,601 shares of the business services provider’s stock valued at $474,140,000 after purchasing an additional 534,008 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Omnicom Group by 2.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 17,805,272 shares of the business services provider’s stock valued at $1,358,007,000 after purchasing an additional 427,284 shares in the last quarter.
Shares of OMC stock opened at $74.88 on Friday. Omnicom Group Inc. has a 1-year low of $65.85 and a 1-year high of $83.34. The stock has a market cap of $17.18 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.10 and a beta of 0.77. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.77 and a current ratio of 0.87.
A number of equities research analysts recently weighed in on OMC shares. ValuEngine raised Omnicom Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 30th. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Barclays downgraded Omnicom Group from an “equal weight” rating to a “sell” rating and set a $75.00 price objective on the stock. in a research report on Friday, September 28th. Pivotal Research raised their price objective on Omnicom Group from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Tuesday, October 16th. Finally, Citigroup raised their price objective on Omnicom Group from $80.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $75.40.
In other Omnicom Group news, CEO Jonathan B. Nelson sold 13,000 shares of the firm’s stock in a transaction dated Friday, October 19th. The stock was sold at an average price of $77.38, for a total value of $1,005,940.00. Following the completion of the sale, the chief executive officer now owns 58,569 shares of the company’s stock, valued at $4,532,069.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Treasurer Dennis E. Hewitt sold 500 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The stock was sold at an average price of $75.85, for a total value of $37,925.00. Following the completion of the sale, the treasurer now directly owns 45,610 shares of the company’s stock, valued at approximately $3,459,518.50. The disclosure for this sale can be found here. In the last three months, insiders sold 14,233 shares of company stock valued at $1,098,528. Corporate insiders own 1.20% of the company’s stock.
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Omnicom Group Company Profile
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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