Impax Asset Management Group plc Sells 8,815 Shares of Omnicom Group Inc. (NYSE:OMC)

Impax Asset Management Group plc lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 10.6% in the 3rd quarter, Holdings Channel reports. The firm owned 74,293 shares of the business services provider’s stock after selling 8,815 shares during the period. Impax Asset Management Group plc’s holdings in Omnicom Group were worth $7,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in OMC. Boston Partners lifted its holdings in shares of Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after acquiring an additional 383,560 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Omnicom Group by 37.0% in 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 acquiring an additional 892,494 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Omnicom Group by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after acquiring an additional 165,136 shares during the last quarter. Cooke & Bieler LP lifted its holdings 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. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Omnicom Group by 18.9% in 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 last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays increased their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Bank of America increased their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. UBS Group raised their price objective 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. Finally, Macquarie raised their price objective 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. One equities 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $96.86 on Friday. The firm has a market cap of $18.90 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. The firm’s 50 day simple moving average is $102.20 and its 200-day simple moving average is $96.51. Omnicom Group Inc. has a one year low of $76.90 and a one year high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping 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 company posted $1.86 earnings per share. As a group, equities analysts predict that Omnicom Group Inc. will post 7.94 EPS for the current year.

Insider Transactions at Omnicom Group

In related 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 transaction, the chief accounting officer now directly owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.