New York State Common Retirement Fund Trims Stock Position in Omnicom Group Inc. (NYSE:OMC)

New York State Common Retirement Fund trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,208 shares of the business services provider’s stock after selling 20,247 shares during the period. New York State Common Retirement Fund’s holdings in Omnicom Group were worth $14,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Greenleaf Trust lifted its position in Omnicom Group by 0.5% during the fourth quarter. Greenleaf Trust now owns 22,329 shares of the business services provider’s stock worth $1,932,000 after buying an additional 119 shares in the last quarter. Cambridge Trust Co. grew its holdings in shares of Omnicom Group by 4.2% in the fourth quarter. Cambridge Trust Co. now owns 2,981 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 121 shares during the period. Pinnacle Bancorp Inc. increased its position in Omnicom Group by 61.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the last quarter. Czech National Bank boosted its holdings in Omnicom Group by 0.4% in the 4th quarter. Czech National Bank now owns 34,666 shares of the business services provider’s stock valued at $2,999,000 after purchasing an additional 134 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Omnicom Group by 0.4% in the 4th quarter. Federated Hermes Inc. now owns 34,676 shares of the business services provider’s stock valued at $3,000,000 after buying an additional 135 shares during the period. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the sale, the director now owns 9,753 shares of the company’s stock, valued at approximately $845,194.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Performance

OMC opened at $95.89 on Tuesday. The business has a fifty day moving average price of $92.57 and a 200 day moving average price of $86.37. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group Inc. has a 12 month low of $72.20 and a 12 month high of $99.23. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.25 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last released its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Omnicom Group had a net margin of 9.96% and a return on equity of 38.23%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts expect that Omnicom Group Inc. will post 7.81 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, March 11th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. Moffett Nathanson raised their price objective on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $104.00 to $108.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Barclays lifted their target price on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Moderate Buy” and an average price target of $103.40.

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.