Cerity Partners LLC Acquires 15,631 Shares of Omnicom Group Inc. (NYSE:OMC)

Cerity Partners LLC increased its holdings in Omnicom Group Inc. (NYSE:OMC) by 47.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,598 shares of the business services provider’s stock after purchasing an additional 15,631 shares during the period. Cerity Partners LLC’s holdings in Omnicom Group were worth $5,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Omnicom Group by 37.0% during the second 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 period. Cooke & Bieler LP lifted its stake in shares of Omnicom Group by 4.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Omnicom Group by 18.9% during the 2nd 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 during the period. Envestnet Asset Management Inc. grew its position in Omnicom Group by 6.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,420,264 shares of the business services provider’s stock worth $127,398,000 after acquiring an additional 81,598 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Omnicom Group by 0.3% in the 2nd quarter. American Century Companies Inc. now owns 997,959 shares of the business services provider’s stock worth $89,517,000 after purchasing an additional 2,797 shares during the period. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

Omnicom Group stock opened at $104.35 on Friday. Omnicom Group Inc. has a fifty-two week low of $78.90 and a fifty-two week high of $107.00. The stock’s 50 day simple moving average is $102.42 and its two-hundred day simple moving average is $97.01. 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 stock has a market cap of $20.36 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.35 and a beta of 0.95.

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

Insider Transactions at Omnicom Group

In other news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents 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. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Macquarie increased their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays boosted their price objective 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. Wells Fargo & Company lowered shares of 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 report on Wednesday, October 16th. Finally, Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

About Omnicom Group

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.