Morton Community Bank Sells 821 Shares of Omnicom Group Inc. (NYSE:OMC)

Morton Community Bank decreased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.0% during the third quarter, HoldingsChannel reports. The fund owned 39,468 shares of the business services provider’s stock after selling 821 shares during the quarter. Morton Community Bank’s holdings in Omnicom Group were worth $4,081,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Omnicom Group during the second quarter valued at $33,000. Innealta Capital LLC bought a new position in Omnicom Group during the second quarter valued at $33,000. Northwest Investment Counselors LLC bought a new position in Omnicom Group during the third quarter valued at $33,000. Davis Capital Management bought a new position in Omnicom Group during the third quarter valued at $36,000. Finally, HM Payson & Co. increased its position 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 acquiring an additional 169 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OMC shares. Wells Fargo & Company cut shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America upped their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group upped their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Barclays upped their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This 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 this hyperlink. Insiders own 1.30% of the company’s stock.

Omnicom Group Stock Up 0.5 %

NYSE:OMC opened at $104.82 on Friday. Omnicom Group Inc. has a 1-year low of $79.68 and a 1-year high of $107.00. The company has a 50-day moving average of $102.47 and a 200 day moving average of $97.08. The firm has a market cap of $20.45 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 2.35 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.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Omnicom Group 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.