959,321 Omnicom Group Inc. $OMC Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its position in Omnicom Group Inc. (NYSE:OMC) by 31.0% during the third quarter, HoldingsChannel reports. The firm owned 2,131,902 shares of the business services provider’s stock after selling 959,321 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Omnicom Group were worth $156,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Omnicom Group in the second quarter valued at about $2,082,476,000. Bank of New York Mellon Corp purchased a new position in shares of Omnicom Group in the second quarter worth about $914,156,000. First Eagle Investment Management LLC lifted its stake in shares of 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 buying an additional 40,096 shares in the last quarter. Baird Financial Group Inc. boosted its position in Omnicom Group by 3.0% during 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. boosted its position in Omnicom Group by 116.2% during 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. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 2.6%

Shares of NYSE:OMC opened at $88.58 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $79.57 and a two-hundred day moving average of $78.45. The stock has a market cap of $24.17 billion, a P/E ratio of 8.87, a PEG ratio of 0.81 and a beta of 0.72. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57.

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

Insider Buying and Selling at Omnicom Group

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

Analyst Upgrades and Downgrades

OMC has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 28th. Zacks Research upgraded shares of Omnicom Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Argus raised shares of Omnicom Group to a “hold” rating in a research note on Monday, September 14th. JPMorgan Chase & Co. decreased their target price on shares of Omnicom Group from $115.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, October 23rd. Finally, Citigroup lowered their target price on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.67.

About Omnicom Group

Omnicom Group is a global marketing and communications company that provides advertising, media planning and buying, public relations, branding, and customer relationship management services. Its agencies also work in areas such as healthcare communications, digital marketing, and data-driven marketing.

The company was formed in 1986 through the combination of advertising agencies BBDO, Doyle Dane Bernbach, and Needham Harper Worldwide. Omnicom operates through a network of agencies and serves clients across major markets around the world.

Omnicom is headquartered in New York.