FSB Premier Wealth Management Inc. Acquires 242 Shares of Omnicom Group Inc. (NYSE:OMC)

FSB Premier Wealth Management Inc. boosted its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,869 shares of the business services provider’s stock after purchasing an additional 242 shares during the period. FSB Premier Wealth Management Inc.’s holdings in Omnicom Group were worth $273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ten Capital Wealth Advisors LLC acquired a new position in shares of Omnicom Group during the first quarter worth $27,000. City State Bank acquired a new position in shares of Omnicom Group during the second quarter worth $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Omnicom Group by 141.3% during the second 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 in the last quarter. Carolinas Wealth Consulting LLC increased its holdings in shares of Omnicom Group by 1,805.9% during the first 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 in the last quarter. Finally, Oakworth Capital Inc. increased its holdings in shares of Omnicom Group by 102.4% during the second quarter. Oakworth Capital Inc. now owns 338 shares of the business services provider’s stock worth $32,000 after buying an additional 171 shares in the last quarter. 92.71% of the stock is currently owned by institutional investors.

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $76.57, for a total transaction of $252,681.00. Following the completion of the sale, the chief accounting officer now owns 30,014 shares in the company, valued at approximately $2,298,171.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on OMC. Bank of America decreased their price objective on Omnicom Group to $73.00 in a report on Wednesday, September 20th. Macquarie decreased their price objective on Omnicom Group from $96.00 to $82.00 in a report on Tuesday, October 10th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $109.00 to $88.00 in a report on Monday, July 24th. Morgan Stanley decreased their price objective on Omnicom Group from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, October 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Omnicom Group from $103.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.25.

Omnicom Group Stock Down 0.4 %

NYSE:OMC traded down $0.30 on Tuesday, hitting $78.87. The stock had a trading volume of 75,141 shares, compared to its average volume of 1,679,413. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.84 and a current ratio of 0.97. The stock has a market cap of $15.61 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.18 and a beta of 0.93. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.23. The firm’s fifty day simple moving average is $75.51 and its two-hundred day simple moving average is $83.76.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.02. Omnicom Group had a net margin of 9.62% and a return on equity of 40.01%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the business posted $1.77 EPS. Omnicom Group’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts predict 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.