Charles Schwab Investment Management Inc. Has $470.24 Million Stock Position in Omnicom Group Inc. (NYSE:OMC)

Charles Schwab Investment Management Inc. lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,548,188 shares of the business services provider’s stock after selling 49,718 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Omnicom Group were worth $470,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Trust Walden Corp increased its position in Omnicom Group by 8.2% during the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after buying an additional 14,153 shares during the last quarter. Central Pacific Bank Trust Division increased its position in Omnicom Group by 16.3% during the third quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after buying an additional 401 shares during the last quarter. SG Americas Securities LLC increased its position in Omnicom Group by 37.0% during the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock worth $5,784,000 after buying an additional 17,414 shares during the last quarter. Cetera Investment Advisers increased its position in Omnicom Group by 197.4% during the first quarter. Cetera Investment Advisers now owns 127,515 shares of the business services provider’s stock worth $12,338,000 after buying an additional 84,632 shares during the last quarter. Finally, Swedbank AB acquired a new position in Omnicom Group during the first quarter worth approximately $6,223,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’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 sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the firm’s 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 sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of recent analyst reports. Macquarie boosted their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group boosted their price objective on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays boosted their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, 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 report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $102.06 on Friday. Omnicom Group Inc. has a fifty-two week low of $78.75 and a fifty-two week high of $107.00. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.20 and a beta of 0.95. 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 firm’s 50-day simple moving average is $102.20 and its 200 day simple moving average is $96.70.

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, beating the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion during 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 last year, the business posted $1.86 EPS. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

About Omnicom Group

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.