Bank of Montreal Can reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 5.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 579,851 shares of the business services provider’s stock after selling 33,250 shares during the quarter. Bank of Montreal Can owned approximately 0.26% of Omnicom Group worth $39,442,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cynosure Advisors LLC boosted its stake in Omnicom Group by 14.6% in the 2nd quarter. Cynosure Advisors LLC now owns 22,440 shares of the business services provider’s stock valued at $1,711,000 after purchasing an additional 2,860 shares during the period. Brown Advisory Inc. boosted its stake in Omnicom Group by 57.3% in the 2nd quarter. Brown Advisory Inc. now owns 252,622 shares of the business services provider’s stock valued at $19,268,000 after purchasing an additional 92,037 shares during the period. BlackRock Inc. boosted its stake in Omnicom Group by 0.7% in the 2nd quarter. BlackRock Inc. now owns 14,936,191 shares of the business services provider’s stock valued at $1,139,184,000 after purchasing an additional 109,292 shares during the period. Evanston Investments Inc. dba Evanston Advisors boosted its stake in Omnicom Group by 1.0% in the 2nd quarter. Evanston Investments Inc. dba Evanston Advisors now owns 119,128 shares of the business services provider’s stock valued at $9,086,000 after purchasing an additional 1,176 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Omnicom Group by 6.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,576 shares of the business services provider’s stock valued at $2,561,000 after purchasing an additional 1,893 shares during the period.
OMC has been the subject of several recent research reports. ValuEngine upgraded Omnicom Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 30th. Barclays downgraded Omnicom Group from an “equal weight” rating to a “sell” rating and set a $75.00 price target for the company. in a research note on Friday, September 28th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $75.00 price objective (down from $80.00) on shares of Omnicom Group in a report on Tuesday, July 17th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 19th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $74.67.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 16th. The business services provider reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Omnicom Group had a return on equity of 40.82% and a net margin of 7.45%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 EPS. As a group, equities research analysts forecast that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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