Bank of Montreal Can Sells 86,258 Shares of Omnicom Group Inc. $OMC

Bank of Montreal Can lowered its position in shares of Omnicom Group Inc. (NYSE:OMC) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 518,862 shares of the business services provider’s stock after selling 86,258 shares during the period. Bank of Montreal Can owned 0.27% of Omnicom Group worth $37,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Robinson Value Management Ltd. increased its stake in shares of Omnicom Group by 0.4% during the first quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider’s stock worth $2,837,000 after purchasing an additional 139 shares during the period. Financial Advisors Network Inc. increased its stake in shares of Omnicom Group by 6.1% during the first quarter. Financial Advisors Network Inc. now owns 2,756 shares of the business services provider’s stock worth $228,000 after purchasing an additional 159 shares during the period. Linden Thomas Advisory Services LLC increased its stake in shares of Omnicom Group by 0.8% during the first quarter. Linden Thomas Advisory Services LLC now owns 22,126 shares of the business services provider’s stock worth $1,834,000 after purchasing an additional 165 shares during the period. Resonant Capital Advisors LLC increased its stake in Omnicom Group by 2.7% during the 2nd quarter. Resonant Capital Advisors LLC now owns 6,288 shares of the business services provider’s stock worth $457,000 after acquiring an additional 168 shares during the period. Finally, Harbour Investments Inc. increased its stake in Omnicom Group by 39.1% during the 1st quarter. Harbour Investments Inc. now owns 616 shares of the business services provider’s stock worth $51,000 after acquiring an additional 173 shares during the period. Institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Finally, Barclays raised their price objective on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.57.

Omnicom Group Trading Down 0.2%

Shares of OMC stock opened at $73.39 on Thursday. The stock’s fifty day moving average price is $77.39 and its two-hundred day moving average price is $75.16. The company has a market cap of $14.16 billion, a PE ratio of 10.84, a P/E/G ratio of 1.43 and a beta of 0.96. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.02 billion. Omnicom Group had a return on equity of 33.30% and a net margin of 8.31%.The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 EPS. Equities analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

About Omnicom Group

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.