Bridgewater Associates LP Sells 17,732 Shares of Omnicom Group Inc. (NYSE:OMC)

Bridgewater Associates LP lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,552 shares of the business services provider’s stock after selling 17,732 shares during the period. Bridgewater Associates LP owned about 0.05% of Omnicom Group worth $11,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Omnicom Group in the second quarter valued at approximately $33,000. Innealta Capital LLC acquired a new position in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new stake in shares of Omnicom Group in the 3rd quarter valued at $33,000. Davis Capital Management acquired a new stake in shares of Omnicom Group during the third quarter worth $36,000. Finally, HM Payson & Co. raised its stake in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 0.3 %

Shares of Omnicom Group stock opened at $104.35 on Friday. The stock has a market capitalization of $20.36 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.95. Omnicom Group Inc. has a 52 week low of $78.90 and a 52 week high of $107.00. The stock has a 50 day moving average price of $102.42 and a two-hundred day moving average price of $97.01. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results 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. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm posted $1.86 EPS. As a group, equities analysts anticipate that Omnicom Group Inc. will post 7.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OMC has been the topic of a number of research analyst reports. UBS Group upped their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Macquarie increased their price target on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America raised their price objective on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. 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, Omnicom Group has an average rating of “Moderate Buy” and an average price target of $110.11.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.