Huntington National Bank Trims Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Huntington National Bank lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds have also recently modified their holdings of OMC. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group during the second quarter worth about $33,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the 3rd quarter worth approximately $33,000. Davis Capital Management bought a new position in Omnicom Group during the 3rd quarter valued at approximately $36,000. Finally, HM Payson & Co. raised its stake in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after buying an additional 169 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OMC shares. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Bank of America raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. UBS Group upped their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One research 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’s stock. Based on data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction 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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the company’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 owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 16.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC opened at $96.86 on Friday. The firm has a fifty day simple moving average of $102.20 and a two-hundred day simple moving average of $96.51. The firm has a market cap of $18.90 billion, a PE ratio of 13.23, a P/E/G ratio of 2.32 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 1-year low of $76.90 and a 1-year high of $107.00.

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 analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $3.88 billion during 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 in the prior year, the business earned $1.86 earnings per share. On average, equities analysts anticipate that Omnicom Group Inc. will post 7.94 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.