Hartford Investment Management Co. Sells 146 Shares of Omnicom Group Inc. (NYSE:OMC)

Hartford Investment Management Co. lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,425 shares of the business services provider’s stock after selling 146 shares during the period. Hartford Investment Management Co.’s holdings in Omnicom Group were worth $1,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OMC. Resonant Capital Advisors LLC boosted its holdings in Omnicom Group by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock valued at $613,000 after acquiring an additional 97 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Omnicom Group by 17.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 97 shares during the last quarter. Iowa State Bank boosted its stake in shares of Omnicom Group by 0.4% in the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after purchasing an additional 101 shares during the last quarter. Center For Asset Management LLC raised its stake in Omnicom Group by 2.6% during the second quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock worth $384,000 after buying an additional 107 shares during the last quarter. Finally, Park Avenue Securities LLC raised its stake in Omnicom Group by 1.1% during the third quarter. Park Avenue Securities LLC now owns 10,151 shares of the business services provider’s stock worth $1,049,000 after buying an additional 113 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Performance

OMC opened at $100.52 on Friday. Omnicom Group Inc. has a 1-year low of $73.58 and a 1-year high of $106.51. The company has a market cap of $19.69 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.39 and a beta of 0.94. The company’s fifty day moving average price is $100.83 and its two-hundred day moving average price is $95.48. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31.

Omnicom Group (NYSE:OMC) last posted 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 company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. During the same quarter in the prior year, the business posted $1.86 EPS. On average, analysts expect that Omnicom Group Inc. will post 7.88 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’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 transaction, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the business’s 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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on OMC shares. Barclays increased their price target on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Bank of America lifted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie lifted their price objective on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. One research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

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.