State of Alaska Department of Revenue Has $2.61 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

State of Alaska Department of Revenue grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 5.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,234 shares of the business services provider’s stock after buying an additional 1,255 shares during the period. State of Alaska Department of Revenue’s holdings in Omnicom Group were worth $2,608,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of OMC. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Omnicom Group in the second quarter worth $33,000. Innealta Capital LLC acquired a new stake in shares of Omnicom Group in the 2nd quarter valued at about $33,000. Northwest Investment Counselors LLC bought a new stake in Omnicom Group in the 3rd quarter valued at about $33,000. Davis Capital Management acquired a new position in Omnicom Group during the 3rd quarter worth approximately $36,000. Finally, Richardson Financial Services Inc. boosted its holdings in Omnicom Group by 66.3% in the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock worth $50,000 after acquiring an additional 224 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Down 1.3 %

OMC opened at $101.00 on Friday. Omnicom Group Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $106.51. The firm has a market capitalization of $19.71 billion, a P/E ratio of 13.80, a PEG ratio of 2.39 and a beta of 0.94. The company’s 50-day moving average is $101.31 and its 200 day moving average is $95.80. 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 posted its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter last year, the business posted $1.86 EPS. Research analysts expect that Omnicom Group Inc. will post 7.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OMC has been the subject of several recent research reports. Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays lifted 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. Finally, Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Insider Activity at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.