Assetmark Inc. Raises Stake in Omnicom Group Inc. (NYSE:OMC)

Assetmark Inc. raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 489,039 shares of the business services provider’s stock after purchasing an additional 9,774 shares during the quarter. Assetmark Inc. owned 0.25% of Omnicom Group worth $50,562,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in OMC. Janney Montgomery Scott LLC lifted its holdings in shares of Omnicom Group by 98.9% in the first quarter. Janney Montgomery Scott LLC now owns 19,618 shares of the business services provider’s stock worth $1,898,000 after buying an additional 9,757 shares in the last quarter. Quent Capital LLC raised its stake in Omnicom Group by 89.1% during the first quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 326 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Omnicom Group by 30.3% during the first quarter. Geneos Wealth Management Inc. now owns 1,543 shares of the business services provider’s stock valued at $149,000 after purchasing an additional 359 shares in the last quarter. SG Americas Securities LLC raised its stake in Omnicom Group by 815.2% during the first quarter. SG Americas Securities LLC now owns 47,067 shares of the business services provider’s stock valued at $4,554,000 after purchasing an additional 41,924 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in Omnicom Group by 22.3% during the first quarter. Forsta AP Fonden now owns 55,400 shares of the business services provider’s stock valued at $5,361,000 after purchasing an additional 10,100 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value 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 $2,479,053.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the 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 completion of the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Omnicom Group Stock Down 0.3 %

Shares of Omnicom Group stock opened at $104.46 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. Omnicom Group Inc. has a 1 year low of $74.41 and a 1 year high of $107.00. The firm’s 50-day moving average is $101.83 and its two-hundred day moving average is $96.28. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.36 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the business earned $1.86 EPS. As a group, research analysts expect that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Omnicom Group 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.