Cadence Capital Management LLC decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,077 shares of the business services provider’s stock after selling 6,797 shares during the period. Cadence Capital Management LLC’s holdings in Omnicom Group were worth $4,375,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of OMC. First Eagle Investment Management LLC raised its stake in shares of Omnicom Group by 12.4% in the third quarter. First Eagle Investment Management LLC now owns 15,101,129 shares of the business services provider’s stock valued at $1,118,541,000 after acquiring an additional 1,671,452 shares during the last quarter. Longview Partners Guernsey LTD raised its stake in shares of Omnicom Group by 41.3% in the third quarter. Longview Partners Guernsey LTD now owns 5,653,698 shares of the business services provider’s stock valued at $418,769,000 after acquiring an additional 1,653,208 shares during the last quarter. Mondrian Investment Partners LTD bought a new position in shares of Omnicom Group in the fourth quarter valued at approximately $51,393,000. Amundi Pioneer Asset Management Inc. bought a new position in shares of Omnicom Group in the third quarter valued at approximately $39,649,000. Finally, Jensen Investment Management Inc. raised its stake in shares of Omnicom Group by 14.6% in the third quarter. Jensen Investment Management Inc. now owns 4,008,440 shares of the business services provider’s stock valued at $296,905,000 after acquiring an additional 509,685 shares during the last quarter. Institutional investors own 98.62% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) traded down $5.10 on Thursday, reaching $77.68. 3,618,365 shares of the company traded hands, compared to its average volume of 2,871,384. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a 1-year low of $65.32 and a 1-year high of $86.71. The company has a market cap of $18,341.18, a PE ratio of 15.51, a P/E/G ratio of 2.59 and a beta of 1.20.
OMC has been the subject of a number of research analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $85.00 target price on shares of Omnicom Group in a research note on Wednesday, October 18th. Telsey Advisory Group raised shares of Omnicom Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $86.00 to $89.00 in a report on Wednesday, October 18th. Royal Bank of Canada lowered their price target on shares of Omnicom Group from $96.00 to $87.00 and set an “outperform” rating for the company in a report on Wednesday, October 18th. Zacks Investment Research lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Credit Suisse Group lifted their target price on shares of Omnicom Group from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Omnicom Group has a consensus rating of “Hold” and a consensus target price of $83.07.
In other Omnicom Group news, insider Peter K. Sherman sold 8,310 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $74.31, for a total transaction of $617,516.10. Following the sale, the insider now directly owns 21,271 shares of the company’s stock, valued at approximately $1,580,648.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.
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Omnicom Group Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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