California Public Employees Retirement System grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 683,720 shares of the business services provider’s stock after acquiring an additional 39,410 shares during the period. California Public Employees Retirement System owned 0.30% of Omnicom Group worth $50,643,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of OMC. Schwab Charles Investment Management Inc. lifted its position in shares of Omnicom Group by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,170,997 shares of the business services provider’s stock worth $97,076,000 after acquiring an additional 77,187 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Omnicom Group in the second quarter worth $104,000. State of Wisconsin Investment Board raised its position in shares of Omnicom Group by 25.8% in the second quarter. State of Wisconsin Investment Board now owns 189,263 shares of the business services provider’s stock worth $15,690,000 after buying an additional 38,860 shares in the last quarter. Legal & General Group Plc raised its position in shares of Omnicom Group by 6.3% in the second quarter. Legal & General Group Plc now owns 1,266,537 shares of the business services provider’s stock worth $104,991,000 after buying an additional 74,806 shares in the last quarter. Finally, Camden National Bank raised its position in shares of Omnicom Group by 3.7% in the second quarter. Camden National Bank now owns 113,037 shares of the business services provider’s stock worth $9,371,000 after buying an additional 4,047 shares in the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.
In other Omnicom Group news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total transaction of $36,342.48. Following the sale, the director now owns 7,777 shares in the company, valued at $577,986.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter K. Sherman sold 8,310 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $74.31, for a total value of $617,516.10. Following the sale, the insider now owns 21,271 shares in the company, valued at approximately $1,580,648.01. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
OMC has been the topic of a number of recent analyst reports. Royal Bank of Canada set a $96.00 price objective on Omnicom Group and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Citigroup upgraded Omnicom Group from a “sell” rating to a “neutral” rating in a research report on Wednesday, September 6th. BMO Capital Markets reiterated a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research report on Wednesday, September 13th. Jefferies Group reiterated a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research report on Thursday, September 21st. Finally, Zacks Investment Research downgraded Omnicom Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $84.00.
Omnicom Group Inc. (OMC) traded down $0.61 during midday trading on Friday, reaching $73.10. The company’s stock had a trading volume of 3,311,500 shares, compared to its average volume of 1,951,860. Omnicom Group Inc. has a twelve month low of $65.32 and a twelve month high of $88.51. The company has a quick ratio of 0.79, a current ratio of 0.90 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $16,992.56, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.97 and a beta of 1.24.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. analysts expect that Omnicom Group Inc. will post 5.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 19th will be given a dividend of $0.60 per share. This is an increase from Omnicom Group’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Monday, December 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.28%. Omnicom Group’s dividend payout ratio (DPR) is presently 43.82%.
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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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