AEGON ASSET MANAGEMENT UK Plc Sells 60,893 Shares of Omnicom Group Inc. (NYSE:OMC)

AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 339,338 shares of the business services provider's stock after selling 60,893 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.17% of Omnicom Group worth $35,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Boston Partners raised its stake in shares of 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 raised its stake in shares of Omnicom Group by 37.0% during 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 purchasing an additional 892,494 shares in the last quarter. Lazard Asset Management LLC raised its position in Omnicom Group by 6.3% in the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider's stock worth $269,734,000 after acquiring an additional 165,136 shares in the last quarter. Cooke & Bieler LP raised its position 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 acquiring an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Omnicom Group by 18.9% in 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 acquiring an additional 364,665 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OMC shares. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Macquarie boosted their price target on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut Omnicom Group from an "overweight" rating to an "equal weight" rating and lifted their price target for the stock from $106.00 to $110.00 in a research note on Wednesday, October 16th. Bank of America lifted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research note on Thursday, September 5th. Finally, UBS Group lifted their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Omnicom Group has an average rating of "Moderate Buy" and an average price target of $110.11.

Insiders Place Their Bets

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the chief accounting officer now directly owns 23,545 shares of the company's stock, valued at $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Omnicom Group Stock Performance

Omnicom Group stock traded down $0.30 during trading hours on Friday, reaching $104.46. 1,470,538 shares of the company were exchanged, compared to its average volume of 1,427,926. The firm 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. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $101.83 and a 200 day moving average of $96.28. Omnicom Group Inc. has a 12 month low of $74.41 and a 12 month high of $107.00.

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