Sumitomo Mitsui Trust Group Inc. Sells 22,540 Shares of Omnicom Group Inc. $OMC

Sumitomo Mitsui Trust Group Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,665 shares of the business services provider’s stock after selling 22,540 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Omnicom Group worth $54,388,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Omnicom Group in the 3rd quarter valued at about $5,401,000. Glenview Trust Co increased its holdings in Omnicom Group by 21.4% in the third quarter. Glenview Trust Co now owns 42,678 shares of the business services provider’s stock valued at $3,142,000 after buying an additional 7,524 shares during the last quarter. D.A. Davidson & CO. raised its stake in Omnicom Group by 3.2% during the third quarter. D.A. Davidson & CO. now owns 12,040 shares of the business services provider’s stock valued at $887,000 after buying an additional 375 shares in the last quarter. Great Lakes Retirement Inc. raised its stake in Omnicom Group by 0.7% during the third quarter. Great Lakes Retirement Inc. now owns 20,675 shares of the business services provider’s stock valued at $1,539,000 after buying an additional 148 shares in the last quarter. Finally, Latitude Advisors LLC bought a new position in Omnicom Group during the 3rd quarter worth approximately $80,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Down 1.2%

NYSE:OMC opened at $82.98 on Wednesday. The firm has a market capitalization of $22.64 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.78 and a beta of 0.72. The stock has a 50 day moving average of $79.62 and a 200-day moving average of $78.29. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $89.57. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.91.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Thursday, October 22nd. The business services provider reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.06. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. The firm had revenue of $6.42 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the business earned $2.24 EPS. The firm’s revenue was up 59.1% on a year-over-year basis. Analysts predict that Omnicom Group Inc. will post 10.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OMC shares. Argus upgraded Omnicom Group to a “hold” rating in a research report on Monday, September 14th. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $115.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Barclays decreased their price objective on shares of Omnicom Group from $88.00 to $87.00 and set an “equal weight” rating for the company in a report on Monday, October 26th. Finally, Morgan Stanley boosted their target price on shares of Omnicom Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 23rd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.67.

Insider Activity

In other news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.