Public Employees Retirement System of Ohio Trims Stake in Omnicom Group Inc. $OMC

Public Employees Retirement System of Ohio lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 13.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,021 shares of the business services provider’s stock after selling 13,448 shares during the period. Public Employees Retirement System of Ohio’s holdings in Omnicom Group were worth $6,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of OMC. EverSource Wealth Advisors LLC lifted its position in Omnicom Group by 82.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after buying an additional 869 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of Omnicom Group in the 2nd quarter valued at approximately $241,000. Gabelli Funds LLC purchased a new stake in shares of Omnicom Group in the 2nd quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. lifted its holdings in shares of Omnicom Group by 5.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock worth $2,113,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Omnicom Group by 14.1% in the 2nd quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock worth $25,990,000 after acquiring an additional 44,746 shares during the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Trading Down 1.8%

NYSE OMC opened at $85.93 on Wednesday. The firm’s fifty day moving average price is $82.27 and its 200 day moving average price is $78.46. The company has a market capitalization of $23.57 billion, a price-to-earnings ratio of 74.08, a price-to-earnings-growth ratio of 0.58 and a beta of 0.65. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.78.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.44 billion. During the same quarter in the prior year, the business earned $2.05 EPS. The company’s quarterly revenue was up 63.4% compared to the same quarter last year. On average, sell-side analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. Omnicom Group’s payout ratio is presently 275.86%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings raised Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price objective for the company. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Finally, Citigroup cut their price target on Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and an average price target of $99.00.

Insider Buying and Selling

In other news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.