Bank of Montreal Can Raises Stock Position in Omnicom Group Inc. (NYSE:OMC)

Bank of Montreal Can increased its stake in Omnicom Group Inc. (NYSE:OMC) by 23.6% in the third quarter, Holdings Channel reports. The institutional investor owned 705,806 shares of the business services provider’s stock after acquiring an additional 134,927 shares during the period. Bank of Montreal Can’s holdings in Omnicom Group were worth $72,465,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Boston Partners boosted its position in Omnicom Group by 11.0% during the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after purchasing an additional 383,560 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Omnicom Group by 37.0% in 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 acquiring an additional 892,494 shares in the last quarter. Cooke & Bieler LP grew its holdings in Omnicom Group by 4.8% in the second quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock worth $215,249,000 after purchasing an additional 109,406 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Omnicom Group by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock worth $205,682,000 after purchasing an additional 364,665 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of 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 valued at $127,398,000 after purchasing an additional 81,598 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was 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 in the company, valued at $2,479,053.05. This 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 available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on OMC. Wells Fargo & Company cut 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 research note on Wednesday, October 16th. Barclays lifted their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Macquarie lifted 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. Finally, UBS Group upped their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Price Performance

Omnicom Group stock opened at $104.63 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $102.38 and a 200-day simple moving average of $96.91. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 2.30 and a beta of 0.95. Omnicom Group Inc. has a 52-week low of $78.90 and a 52-week high of $107.00.

Omnicom Group (NYSE:OMC) last posted 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. 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 analysts’ expectations of $3.79 billion. During the same quarter in the prior year, the company posted $1.86 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

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.