Eliot Finkel Investment Counsel LLC Sells 1,430 Shares of Omnicom Group Inc. (NYSE:OMC)

Eliot Finkel Investment Counsel LLC cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,515 shares of the business services provider’s stock after selling 1,430 shares during the quarter. Omnicom Group makes up about 4.0% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 13th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in Omnicom Group were worth $6,463,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OMC. Jacobs Levy Equity Management Inc. boosted its position in shares of Omnicom Group by 319.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider’s stock worth $140,317,000 after purchasing an additional 1,104,566 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 worth $296,717,000 after acquiring an additional 892,494 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Omnicom Group in the second quarter worth $56,177,000. Boston Partners increased its holdings 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 acquiring an additional 383,560 shares in the last quarter. Finally, Scout Investments Inc. purchased a new position in shares of Omnicom Group in the 1st quarter worth about $36,715,000. 91.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on OMC shares. Barclays raised their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $106.00 to $110.00 in a report on Wednesday. UBS Group upped their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday. Macquarie lifted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, 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 report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average price target of $110.30.

Omnicom Group Stock Down 0.7 %

Shares of OMC stock opened at $104.48 on Friday. The company has a 50 day simple moving average of $100.30 and a two-hundred day simple moving average of $95.27. The stock has a market cap of $20.46 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.39 and a beta of 0.94. Omnicom Group Inc. has a 12 month low of $73.28 and a 12 month high of $106.51. 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 quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $1.86 EPS. On average, research analysts expect that Omnicom Group Inc. will post 7.88 earnings per share for the current year.

Insider Transactions at Omnicom Group

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 stock was 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 directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

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.