Impax Asset Management Group plc Sells 8,815 Shares of Omnicom Group Inc. (NYSE:OMC)

Impax Asset Management Group plc cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 10.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,293 shares of the business services provider’s stock after selling 8,815 shares during the quarter. Impax Asset Management Group plc’s holdings in Omnicom Group were worth $7,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Boston Partners lifted its position in 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. Bank of New York Mellon Corp lifted its position in Omnicom Group by 37.0% in the 2nd 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. Lazard Asset Management LLC lifted its position in Omnicom Group by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after acquiring an additional 165,136 shares in the last quarter. Cooke & Bieler LP lifted its position in Omnicom Group by 4.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,399,651 shares of the business services provider’s stock valued at $215,249,000 after acquiring an additional 109,406 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Omnicom Group by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after acquiring an additional 364,665 shares in the last quarter. 91.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The stock was 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 owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction 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 owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 16.33 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in 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 report on Wednesday, October 16th. Macquarie increased their price target on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Barclays increased their price target on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price target on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Trading Down 7.8 %

NYSE:OMC opened at $96.86 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 2.32 and a beta of 0.95. Omnicom Group Inc. has a one year low of $76.90 and a one year high of $107.00. The business has a fifty day moving average price of $102.20 and a 200-day moving average price of $96.51.

Omnicom Group (NYSE:OMC) last issued its quarterly 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. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business posted $1.86 EPS. Sell-side analysts forecast that Omnicom Group Inc. will post 7.94 EPS 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.