Omnicom Group Inc. (NYSE:OMC) Shares Acquired by Citigroup Inc.

Citigroup Inc. increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 33.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 283,156 shares of the business services provider’s stock after purchasing an additional 71,681 shares during the quarter. Citigroup Inc.’s holdings in Omnicom Group were worth $29,275,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of OMC. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group during the 2nd quarter worth $33,000. Innealta Capital LLC acquired a new position in Omnicom Group during the second quarter worth about $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the third quarter valued at about $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group in the third quarter valued at approximately $36,000. Finally, HM Payson & Co. increased its stake in shares of Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OMC has been the topic of a number of recent research reports. Bank of America upped their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. UBS Group lifted their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Macquarie increased their target price on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Barclays upped their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Insider Activity

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

Omnicom Group Price Performance

Shares of NYSE OMC opened at $104.61 on Tuesday. The company has a market capitalization of $20.41 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.30 and a beta of 0.95. Omnicom Group Inc. has a 1-year low of $78.90 and a 1-year high of $107.00. The business has a 50-day moving average of $102.32 and a 200-day moving average of $96.85. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share 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 analysts’ expectations of $3.79 billion. During the same period in the prior year, the company posted $1.86 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

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.