Longview Partners Guernsey LTD lowered its position in Omnicom Group Inc. (NYSE:OMC) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,404,856 shares of the company’s stock after selling 145,770 shares during the period. Omnicom Group makes up 2.4% of Longview Partners Guernsey LTD’s portfolio, making the stock its 22nd largest position. Longview Partners Guernsey LTD’s holdings in Omnicom Group were worth $358,952,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Omnicom Group by 1.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 679,281 shares of the company’s stock worth $55,355,000 after buying an additional 12,083 shares in the last quarter. Chicago Equity Partners LLC raised its stake in shares of Omnicom Group by 26.1% in the second quarter. Chicago Equity Partners LLC now owns 348,750 shares of the company’s stock worth $28,420,000 after buying an additional 72,240 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Omnicom Group by 0.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,527 shares of the company’s stock worth $1,509,000 after buying an additional 157 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Omnicom Group during the second quarter worth about $687,000. Finally, Waverton Investment Management Ltd acquired a new stake in shares of Omnicom Group during the second quarter worth about $4,805,000. 97.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) traded down 0.05% on Monday, reaching $82.83. The company had a trading volume of 2,699,466 shares. Omnicom Group Inc. has a 12 month low of $66.48 and a 12 month high of $87.50. The firm’s 50 day moving average is $84.41 and its 200 day moving average is $83.41. The firm has a market capitalization of $19.59 billion, a PE ratio of 18.12 and a beta of 1.35.
Several research analysts have commented on the company. Pivotal Research raised their price objective on Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a report on Monday. RBC Capital Markets restated a “hold” rating and set a $87.00 price objective on shares of Omnicom Group in a report on Sunday, October 9th. Royal Bank Of Canada assumed coverage on Omnicom Group in a report on Friday, October 7th. They set a “sector perform” rating and a $87.00 price objective on the stock. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Thursday, October 6th. Finally, Credit Suisse Group AG assumed coverage on Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. Omnicom Group currently has a consensus rating of “Hold” and an average target price of $83.86.
In other Omnicom Group news, Director Linda Johnson Rice sold 824 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the transaction, the director now directly owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.
About Omnicom Group
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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