Omnicom Group Inc. (NYSE:OMC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 7.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,687 shares of the business services provider’s stock after acquiring an additional 2,414 shares during the period. CIBC Asset Management Inc’s holdings in Omnicom Group were worth $3,483,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Omnicom Group in the second quarter valued at approximately $33,000. Innealta Capital LLC acquired a new stake in shares of Omnicom Group in the second quarter valued at $33,000. Northwest Investment Counselors LLC purchased a new stake in shares of Omnicom Group in the 3rd quarter valued at $33,000. Davis Capital Management acquired a new position in Omnicom Group during the 3rd quarter worth about $36,000. Finally, HM Payson & Co. boosted its holdings in Omnicom Group by 84.5% during the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 169 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’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 completion of the sale, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. The trade was a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OMC. Macquarie increased 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. Barclays increased their target price on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. 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. JPMorgan Chase & Co. boosted their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lowered 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 research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.11.

Omnicom Group Stock Up 1.5 %

OMC stock opened at $98.33 on Tuesday. The company’s 50 day moving average is $102.15 and its two-hundred day moving average is $96.60. Omnicom Group Inc. has a twelve month low of $78.28 and a twelve month high of $107.00. 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 market cap of $19.19 billion, a P/E ratio of 13.43, a PEG ratio of 2.18 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.01. The company 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 in the prior year, the firm posted $1.86 earnings per share. Research analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal 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.