Assetmark Inc. boosted its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.7% in the third quarter, HoldingsChannel reports. The firm owned 355,380 shares of the business services provider’s stock after buying an additional 12,722 shares during the quarter. Assetmark Inc.’s holdings in Omnicom Group were worth $24,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pendal Group Ltd lifted its stake in Omnicom Group by 10.0% in the third quarter. Pendal Group Ltd now owns 7,914 shares of the business services provider’s stock valued at $538,000 after buying an additional 720 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Omnicom Group by 1.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 50,542 shares of the business services provider’s stock valued at $3,438,000 after buying an additional 729 shares during the last quarter. Comerica Bank lifted its stake in Omnicom Group by 1.3% in the second quarter. Comerica Bank now owns 56,064 shares of the business services provider’s stock valued at $3,963,000 after buying an additional 742 shares during the last quarter. Boston Financial Mangement LLC lifted its stake in Omnicom Group by 25.9% in the second quarter. Boston Financial Mangement LLC now owns 3,813 shares of the business services provider’s stock valued at $291,000 after buying an additional 785 shares during the last quarter. Finally, AGF Investments America Inc. lifted its stake in Omnicom Group by 2.4% in the second quarter. AGF Investments America Inc. now owns 34,890 shares of the business services provider’s stock valued at $2,661,000 after buying an additional 810 shares during the last quarter.

In other news, CEO Jonathan B. Nelson sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The stock was sold at an average price of $77.38, for a total transaction of $1,005,940.00. Following the completion of the sale, the chief executive officer now owns 58,569 shares in the company, valued at $4,532,069.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Johnson Rice sold 533 shares of the company’s stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $76.28, for a total value of $40,657.24. Following the sale, the director now owns 8,027 shares of the company’s stock, valued at approximately $612,299.56. The disclosure for this sale can be found here. Insiders have sold 14,233 shares of company stock valued at $1,098,528 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Shares of NYSE OMC opened at $75.48 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.87 and a quick ratio of 0.77. Omnicom Group Inc. has a twelve month low of $65.85 and a twelve month high of $83.34. The company has a market capitalization of $16.95 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.07 and a beta of 0.76.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 16th. The business services provider reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Omnicom Group had a return on equity of 41.70% and a net margin of 7.68%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 5.63 earnings per share for the current year.

OMC has been the subject of a number of research reports. ValuEngine upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Barclays set a $76.00 price objective on Omnicom Group and gave the company a “sell” rating in a research note on Wednesday, October 17th. Citigroup boosted their price objective on Omnicom Group from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Pivotal Research boosted their price objective on Omnicom Group from $65.00 to $66.00 and gave the company a “hold” rating in a research note on Tuesday, October 16th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.40.

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Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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