Omnicom Group Inc. (NYSE:OMC) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,403 shares of the business services provider’s stock after selling 3,191 shares during the period. Vontobel Holding Ltd.’s holdings in Omnicom Group were worth $6,969,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Boston Partners increased its position in shares of Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock worth $374,795,000 after acquiring an additional 383,560 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Omnicom Group by 37.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after buying an additional 892,494 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of Omnicom Group by 6.3% during the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock worth $269,734,000 after buying an additional 165,136 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of Omnicom Group by 4.8% in the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after buying an additional 109,406 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Omnicom Group by 18.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $106.00 to $110.00 in a report on Wednesday. Macquarie boosted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Bank of America raised their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.30.

Insider Activity at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Omnicom Group Stock Down 0.3 %

Omnicom Group stock opened at $105.22 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a one year low of $73.28 and a one year high of $106.51. The company has a 50-day simple moving average of $100.08 and a 200-day simple moving average of $95.22. The firm has a market capitalization of $20.61 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.39 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. During the same quarter in the prior year, the firm earned $1.86 EPS. As a group, equities analysts expect that Omnicom Group Inc. will post 7.88 earnings per share 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.