Omnicom Group Inc. $OMC Stock Sold by Asset Management One Co. Ltd.

Key Points

• Asset Management One reduced its Omnicom stake by 12.6% in the third quarter, selling 20,929 shares and retaining 144,628 shares valued at approximately $10.65 million.
• Institutional investors own approximately 91.97% of Omnicom’s stock, with several major firms—including BlackRock and Bank of New York Mellon—establishing or increasing positions.
• Omnicom exceeded quarterly earnings and revenue expectations, reporting $2.73 in EPS and $6.42 billion in revenue. Despite a consensus “Hold” rating, analysts’ average price target is $100.67 versus the stock’s reported $81.28 price.

Asset Management One Co. Ltd. decreased its position in Omnicom Group Inc. (NYSE:OMC - Free Report) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,628 shares of the business services provider's stock after selling 20,929 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.05% of Omnicom Group worth $10,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OMC. BlackRock Inc. bought a new position in Omnicom Group during the 2nd quarter valued at approximately $2,082,476,000. Bank of New York Mellon Corp bought a new stake in Omnicom Group in the second quarter worth $914,156,000. First Eagle Investment Management LLC boosted its holdings in Omnicom Group by 0.5% in the second quarter. First Eagle Investment Management LLC now owns 7,343,209 shares of the business services provider's stock worth $534,806,000 after acquiring an additional 40,096 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Omnicom Group by 3.0% in the second quarter. Baird Financial Group Inc. now owns 4,852,121 shares of the business services provider's stock worth $353,380,000 after acquiring an additional 142,082 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of Omnicom Group by 116.2% in the first quarter. Pacer Advisors Inc. now owns 2,847,575 shares of the business services provider's stock worth $214,451,000 after acquiring an additional 1,530,743 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company's stock.

Omnicom Group Price Performance

NYSE OMC opened at $81.28 on Friday. Omnicom Group Inc. has a one year low of $66.33 and a one year high of $89.57. The stock has a 50-day moving average of $79.82 and a 200 day moving average of $78.24. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 0.75 and a beta of 0.68. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.78 and a current ratio of 0.91.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, topping analysts' consensus estimates of $2.67 by $0.06. The business had revenue of $6.42 billion during the quarter, compared to analyst estimates of $6.21 billion. Omnicom Group had a return on equity of 24.67% and a net margin of 2.85%. Omnicom Group's revenue was up 59.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.24 EPS. On average, sell-side analysts forecast that Omnicom Group Inc. will post 10.37 EPS for the current year.

Insiders Place Their Bets

In related news, Director Linda Rice sold 1,385 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.73, for a total value of $122,891.05. Following the transaction, the director directly owned 11,719 shares of the company's stock, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

OMC has been the subject of several analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Omnicom Group in a report on Wednesday. Morgan Stanley upped their price target on shares of Omnicom Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Friday, October 23rd. Argus raised shares of Omnicom Group to a "hold" rating in a research report on Monday, September 14th. JPMorgan Chase & Co. reduced their price objective on shares of Omnicom Group from $115.00 to $111.00 and set an "overweight" rating for the company in a research note on Friday, October 23rd. Finally, Barclays decreased their target price on shares of Omnicom Group from $88.00 to $87.00 and set an "equal weight" rating for the company in a report on Monday, October 26th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $100.67.

About Omnicom Group

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.

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