Freedom Investment Management Inc. Has $487,000 Holdings in Omnicom Group Inc. (NYSE:OMC)

Freedom Investment Management Inc. trimmed its holdings in Omnicom Group Inc. (NYSE:OMC) by 9.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,709 shares of the business services provider’s stock after selling 473 shares during the period. Freedom Investment Management Inc.’s holdings in Omnicom Group were worth $487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Boston Trust Walden Corp boosted its position 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 worth $16,723,000 after purchasing an additional 14,153 shares during the period. Central Pacific Bank Trust Division lifted its stake in shares of Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after buying an additional 401 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Omnicom Group by 37.0% during the 2nd quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock worth $5,784,000 after buying an additional 17,414 shares during the period. Cetera Investment Advisers grew its stake in Omnicom Group by 197.4% in the 1st quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock valued at $12,338,000 after buying an additional 84,632 shares during the last quarter. Finally, Swedbank AB bought a new position in Omnicom Group in the 1st quarter valued at about $6,223,000. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. Barclays boosted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target 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. 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. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Trading Up 0.5 %

OMC opened at $104.82 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a twelve month low of $79.68 and a twelve month high of $107.00. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.32, a P/E/G ratio of 2.34 and a beta of 0.95. The company has a 50-day simple moving average of $102.47 and a 200 day simple moving average of $97.07.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) 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 business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the firm posted $1.86 earnings per share. Analysts predict that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Insider Activity

In other Omnicom Group news, 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 value of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.