BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 4,835 Shares of Omnicom Group Inc. (NYSE:OMC)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in Omnicom Group Inc. (NYSE:OMC) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,674 shares of the business services provider’s stock after selling 4,835 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Omnicom Group were worth $3,378,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Northwest Investment Counselors LLC purchased a new position in shares of Omnicom Group in the 3rd quarter worth $33,000. Davis Capital Management purchased a new position in Omnicom Group in the third quarter worth about $36,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group during the 2nd quarter valued at about $33,000. HM Payson & Co. grew its stake in shares of Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 169 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Omnicom Group during the 2nd quarter valued at about $33,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Performance

NYSE:OMC opened at $103.79 on Wednesday. The stock has a 50-day moving average price of $102.57 and a 200 day moving average price of $97.19. The stock has a market capitalization of $20.25 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.36 and a beta of 0.94. Omnicom Group Inc. has a 12-month low of $80.92 and a 12-month high of $107.00. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) 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 analyst estimates of $3.79 billion. During the same period last year, the firm posted $1.86 EPS. Equities research analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of 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 downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. Barclays upped their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Macquarie lifted their target price on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America upped their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Omnicom Group currently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction dated 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 of the company’s stock, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

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.