Mutual of America Capital Management LLC Sells 606 Shares of Omnicom Group Inc. (NYSE:OMC)

Mutual of America Capital Management LLC reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 2.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,090 shares of the business services provider’s stock after selling 606 shares during the period. Mutual of America Capital Management LLC’s holdings in Omnicom Group were worth $2,491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its holdings in Omnicom Group by 319.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after buying an additional 1,104,566 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Omnicom Group by 37.0% in the second 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 purchasing an additional 892,494 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Omnicom Group in the second quarter valued at about $56,177,000. Boston Partners lifted its position in shares of Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Omnicom Group by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after purchasing an additional 364,665 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America increased their price objective 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. Macquarie lifted their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $106.00 to $110.00 in a research report on Wednesday, October 16th. UBS Group raised their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

Insiders Place Their Bets

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred 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 $2,479,053.05. This represents a 14.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 0.4 %

Shares of Omnicom Group stock opened at $102.38 on Friday. The stock has a market capitalization of $19.98 billion, a P/E ratio of 13.99, a P/E/G ratio of 2.29 and a beta of 0.95. Omnicom Group Inc. has a 52-week low of $78.90 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The stock’s 50-day simple moving average is $102.25 and its 200 day simple moving average is $96.77.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 9.45% and a return on equity of 36.59%. During the same quarter in the previous year, the firm posted $1.86 earnings per share. As a group, research analysts anticipate 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.