Omnicom Group Inc. (NYSE:OMC) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 58.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,185 shares of the business services provider’s stock after selling 4,416 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Omnicom Group were worth $327,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of Omnicom Group by 19.7% in the third quarter. Franklin Resources Inc. now owns 231,068 shares of the business services provider’s stock valued at $23,860,000 after acquiring an additional 38,022 shares in the last quarter. Tidal Investments LLC raised its stake in Omnicom Group by 0.6% in the 3rd quarter. Tidal Investments LLC now owns 34,307 shares of the business services provider’s stock valued at $3,547,000 after purchasing an additional 195 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Omnicom Group in the 3rd quarter valued at $740,000. Arvest Bank Trust Division acquired a new stake in Omnicom Group during the 3rd quarter worth $21,191,000. Finally, World Investment Advisors LLC grew its holdings in shares of Omnicom Group by 209.7% during the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock worth $2,720,000 after buying an additional 17,815 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group 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 transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on OMC. Barclays raised their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Macquarie reissued an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company reduced their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Omnicom Group Stock Performance

Shares of Omnicom Group stock opened at $88.86 on Friday. The firm has a market cap of $17.34 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 52 week low of $84.43 and a 52 week high of $107.00. The business’s fifty day simple moving average is $100.28 and its 200-day simple moving average is $97.11.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating 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 business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period last year, the business earned $1.86 earnings per share. Equities analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group’s payout ratio is 38.25%.

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.