BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 7,068 Shares of Omnicom Group Inc. (NYSE:OMC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 13.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 46,290 shares of the business services provider’s stock after selling 7,068 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Omnicom Group were worth $4,786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OMC. Northwest Investment Counselors LLC bought a new position in shares of Omnicom Group in the third quarter valued at $33,000. Davis Capital Management purchased a new stake in Omnicom Group in the 3rd quarter valued at $36,000. Innealta Capital LLC purchased a new position in Omnicom Group during the 2nd quarter worth $33,000. HM Payson & Co. grew its stake in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after acquiring an additional 169 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Omnicom Group in the second quarter valued at about $33,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OMC shares. Bank of America increased their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Barclays lifted their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Macquarie upped 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. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average price target of $110.11.

Omnicom Group Trading Up 0.4 %

Shares of OMC stock opened at $102.38 on Monday. Omnicom Group Inc. has a 1 year low of $78.90 and a 1 year high of $107.00. The company’s fifty day simple moving average is $102.25 and its two-hundred day simple moving average is $96.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.29 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, topping 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 firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, analysts anticipate 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 on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.