Raymond James Trust N.A. Sells 137 Shares of Omnicom Group Inc. (NYSE:OMC)

Raymond James Trust N.A. decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,798 shares of the business services provider’s stock after selling 137 shares during the quarter. Raymond James Trust N.A.’s holdings in Omnicom Group were worth $806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in OMC. Bank of New York Mellon Corp raised its position in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after acquiring an additional 892,494 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Omnicom Group during the 2nd quarter valued at $56,177,000. Boston Partners raised its position in shares of Omnicom Group by 11.0% during the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after acquiring an additional 383,560 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Omnicom Group by 18.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares during the last quarter. Finally, Conning Inc. bought a new stake in shares of Omnicom Group during the 2nd quarter valued at $32,484,000. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on OMC. Barclays upped 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. Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Macquarie boosted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, 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 report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $102.38 on Monday. The firm has a market cap of $19.98 billion, a PE ratio of 13.99, a PEG ratio of 2.29 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 1-year low of $78.90 and a 1-year high of $107.00. The company has a fifty day moving average price of $102.25 and a 200 day moving average price of $96.79.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period in the prior year, the business earned $1.86 EPS. Research analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 completion of the transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group 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.