Pathstone Holdings LLC Has $3.66 Million Position in Omnicom Group Inc. (NYSE:OMC)

Pathstone Holdings LLC increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,400 shares of the business services provider’s stock after purchasing an additional 835 shares during the period. Pathstone Holdings LLC’s holdings in Omnicom Group were worth $3,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group in the 3rd quarter valued at $33,000. Davis Capital Management bought a new stake in Omnicom Group during the third quarter worth about $36,000. Innealta Capital LLC bought a new stake in Omnicom Group during the second quarter worth about $33,000. HM Payson & Co. increased its holdings in shares of Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Institutional investors own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’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 sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Macquarie boosted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Stock Performance

OMC stock opened at $102.38 on Monday. Omnicom Group Inc. has a twelve month low of $78.90 and a twelve month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market cap of $19.98 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95. The business’s fifty day moving average is $102.25 and its 200-day moving average is $96.79.

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

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.