Assetmark Inc. Has $50.56 Million Stake in Omnicom Group Inc. (NYSE:OMC)

Assetmark Inc. raised its stake in Omnicom Group Inc. (NYSE:OMC - Free Report) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 489,039 shares of the business services provider's stock after buying an additional 9,774 shares during the period. Assetmark Inc. owned approximately 0.25% of Omnicom Group worth $50,562,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of OMC. Jacobs Levy Equity Management Inc. boosted its position in shares of Omnicom Group by 319.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,450,160 shares of the business services provider's stock valued at $140,317,000 after purchasing an additional 1,104,566 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $296,717,000 after buying an additional 892,494 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Omnicom Group in the second quarter worth approximately $56,177,000. Boston Partners lifted its position in shares of Omnicom Group by 11.0% in the 1st quarter. Boston Partners now owns 3,874,857 shares of the business services provider's stock valued at $374,795,000 after acquiring an additional 383,560 shares in the last quarter. Finally, Scout Investments Inc. acquired a new position in Omnicom Group in the 1st quarter worth approximately $36,715,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Macquarie boosted their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. UBS Group raised their price objective on Omnicom Group from $120.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. Finally, Bank of America raised their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a report on Thursday, September 5th. One investment 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.com, the company has an average rating of "Moderate Buy" and a consensus price target of $110.11.

Insider Buying and Selling at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm's 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 sale, the vice president now owns 15,375 shares of the company's stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the company's stock in a transaction 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 in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction 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 approximately $2,479,053.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Omnicom Group Stock Down 0.3 %

Shares of OMC traded down $0.30 during mid-day trading on Friday, hitting $104.46. 1,470,538 shares of the company's stock were exchanged, compared to its average volume of 1,427,926. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.36 and a beta of 0.95. The firm has a fifty day moving average of $101.83 and a two-hundred day moving average of $96.29. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a twelve month low of $74.41 and a twelve month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 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 firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the business posted $1.86 earnings per share. On average, sell-side analysts forecast 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.