Omnicom Group Inc. (NYSE:OMC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,767,494 shares of the business services provider’s stock after selling 210,684 shares during the period. Charles Schwab Investment Management Inc. owned about 2.41% of Omnicom Group worth $437,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ten Capital Wealth Advisors LLC bought a new position in Omnicom Group during the 1st quarter worth $27,000. City State Bank bought a new position in Omnicom Group during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC grew its stake in Omnicom Group by 141.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 304 shares of the business services provider’s stock worth $29,000 after buying an additional 178 shares during the last quarter. Carolinas Wealth Consulting LLC grew its stake in Omnicom Group by 1,805.9% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock worth $31,000 after buying an additional 307 shares during the last quarter. Finally, Oakworth Capital Inc. grew its stake in Omnicom Group by 102.4% during the 2nd quarter. Oakworth Capital Inc. now owns 338 shares of the business services provider’s stock worth $32,000 after buying an additional 171 shares during the last quarter. 92.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 3,300 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $76.57, for a total value of $252,681.00. Following the completion of the transaction, the chief accounting officer now owns 30,014 shares in the company, valued at approximately $2,298,171.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OMC shares. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $109.00 to $88.00 in a report on Monday, July 24th. Bank of America lowered their price target on Omnicom Group to $73.00 in a report on Wednesday, September 20th. Morgan Stanley lowered their price target on Omnicom Group from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. JPMorgan Chase & Co. lowered their price target on Omnicom Group from $103.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Finally, StockNews.com started coverage on Omnicom Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $93.25.

Omnicom Group Trading Down 0.1 %

NYSE:OMC opened at $78.17 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.97 and a debt-to-equity ratio of 1.47. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $99.23. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. The stock has a fifty day simple moving average of $75.56 and a 200 day simple moving average of $84.03.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.02. Omnicom Group had a return on equity of 40.01% and a net margin of 9.62%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the company posted $1.77 EPS. Omnicom Group’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Omnicom Group Inc. will post 7.39 earnings per share for the current year.

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 brand consulting, experiential, execution and support, public relations, and healthcare.