Huntington National Bank Sells 310 Shares of Omnicom Group Inc. (NYSE:OMC)

Huntington National Bank lowered its position in Omnicom Group Inc. (NYSE:OMC) by 1.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,950 shares of the business services provider’s stock after selling 310 shares during the quarter. Huntington National Bank’s holdings in Omnicom Group were worth $2,786,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Resonant Capital Advisors LLC boosted its stake in shares of Omnicom Group by 1.7% in the third quarter. Resonant Capital Advisors LLC now owns 5,885 shares of the business services provider’s stock worth $613,000 after acquiring an additional 97 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Omnicom Group by 17.9% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 638 shares of the business services provider’s stock worth $66,000 after purchasing an additional 97 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in Omnicom Group by 3.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,698 shares of the business services provider’s stock worth $279,000 after purchasing an additional 100 shares during the period. Iowa State Bank grew its holdings in Omnicom Group by 0.4% during the 3rd quarter. Iowa State Bank now owns 24,447 shares of the business services provider’s stock valued at $2,528,000 after buying an additional 101 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of Omnicom Group by 2.1% during the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider’s stock valued at $514,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

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

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $96.86 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock’s fifty day moving average price is $102.20 and its 200-day moving average price is $96.51. The firm has a market cap of $18.90 billion, a P/E ratio of 13.23, a P/E/G ratio of 2.32 and a beta of 0.95. Omnicom Group Inc. has a 12 month low of $76.90 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC) last announced its 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 business 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 firm earned $1.86 EPS. On average, equities research analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

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.