iA Global Asset Management Inc. Reduces Stock Position in Omnicom Group Inc. (NYSE:OMC)

iA Global Asset Management Inc. cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 77.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,297 shares of the business services provider's stock after selling 11,648 shares during the period. iA Global Asset Management Inc.'s holdings in Omnicom Group were worth $341,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OMC. Innealta Capital LLC acquired a new position in Omnicom Group during the second quarter worth $33,000. Northwest Investment Counselors LLC acquired a new position in Omnicom Group during the third quarter worth $33,000. Davis Capital Management acquired a new position in Omnicom Group during the third quarter worth $36,000. HM Payson & Co. lifted its stake in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider's stock worth $38,000 after purchasing an additional 169 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in Omnicom Group by 66.3% during the second quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider's stock worth $50,000 after purchasing an additional 224 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Omnicom Group

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated 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 approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by insiders.

Omnicom Group Stock Performance

Shares of OMC traded down $0.37 during mid-day trading on Wednesday, hitting $92.09. 3,392,010 shares of the company's stock were exchanged, compared to its average volume of 1,601,619. 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 firm has a market capitalization of $17.97 billion, a P/E ratio of 12.59, a P/E/G ratio of 2.32 and a beta of 0.94. Omnicom Group Inc. has a fifty-two week low of $82.97 and a fifty-two week high of $107.00. The business's 50 day moving average is $102.22 and its two-hundred day moving average is $97.32.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same quarter last year, the firm earned $1.86 earnings per share. On average, equities analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.04%. Omnicom Group's payout ratio is currently 38.25%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OMC shares. UBS Group upped 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. JPMorgan Chase & Co. upped their price objective on Omnicom Group from $118.00 to $119.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Macquarie reaffirmed an "outperform" rating and set a $120.00 price objective on shares of Omnicom Group in a research report on Wednesday. Bank of America upped their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company dropped their target price on Omnicom Group from $110.00 to $99.00 and set an "equal weight" rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.89.

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.