Cigna Investments Inc. New Invests $209,000 in Omnicom Group Inc. (NYSE:OMC)

by · The Markets Daily

Cigna Investments Inc. New acquired a new stake in Omnicom Group Inc. (NYSE:OMC – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,021 shares of the business services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Omnicom Group during the 2nd quarter worth about $33,000. Innealta Capital LLC purchased a new position in Omnicom Group during the second quarter worth about $33,000. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group during the third quarter valued at about $33,000. Davis Capital Management purchased a new stake in shares of Omnicom Group in the 3rd quarter valued at approximately $36,000. Finally, HM Payson & Co. raised its stake in shares of Omnicom Group by 84.5% in the 3rd 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 period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OMC has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Macquarie boosted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average price target of $110.11.

Read Our Latest Analysis on OMC

Insiders Place Their Bets

In other 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 transaction, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Up 0.1 %

OMC stock opened at $101.08 on Friday. Omnicom Group Inc. has a fifty-two week low of $74.41 and a fifty-two week high of $106.51. The company’s 50 day moving average price is $101.36 and its 200 day moving average price is $95.91. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 2.30 and a beta of 0.95.

Omnicom Group (NYSE:OMC – Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period last year, the business earned $1.86 EPS. On average, equities research analysts anticipate that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

About Omnicom Group

(Free Report)

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.

See Also

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