Kerusso Capital Management LLC Increases Stake in Omnicom Group Inc. (NYSE:OMC)

Kerusso Capital Management LLC raised its position in Omnicom Group Inc. (NYSE:OMC) by 6.4% during the third quarter, HoldingsChannel reports. The firm owned 16,374 shares of the business services provider’s stock after purchasing an additional 982 shares during the period. Kerusso Capital Management LLC’s holdings in Omnicom Group were worth $1,693,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC grew its position in Omnicom Group by 98.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,618 shares of the business services provider’s stock valued at $1,898,000 after acquiring an additional 9,757 shares in the last quarter. Quent Capital LLC boosted its holdings in Omnicom Group by 89.1% in the first quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 326 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Omnicom Group by 30.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,543 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 359 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Omnicom Group by 815.2% in the first quarter. SG Americas Securities LLC now owns 47,067 shares of the business services provider’s stock valued at $4,554,000 after purchasing an additional 41,924 shares in the last quarter. Finally, Forsta AP Fonden boosted its holdings in Omnicom Group by 22.3% in the first quarter. Forsta AP Fonden now owns 55,400 shares of the business services provider’s stock valued at $5,361,000 after purchasing an additional 10,100 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. UBS Group upped their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Macquarie upped their target price on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America increased their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Insider Transactions at Omnicom Group

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction 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 transaction, the vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’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 value of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 value of $297,510.00. Following the completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Omnicom Group Trading Down 0.3 %

NYSE:OMC opened at $104.46 on Friday. Omnicom Group Inc. has a 12-month low of $74.41 and a 12-month high of $107.00. The firm has a market capitalization of $20.38 billion, a P/E ratio of 14.27, a P/E/G ratio of 2.36 and a beta of 0.95. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The business has a 50 day simple moving average of $101.83 and a 200 day simple moving average of $96.28.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.86 EPS. Equities research analysts predict that Omnicom Group Inc. will post 7.92 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.