New York State Common Retirement Fund Increases Stake in Omnicom Group Inc. $OMC

New York State Common Retirement Fund raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 20.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,905 shares of the business services provider’s stock after buying an additional 22,200 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Omnicom Group worth $10,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AustralianSuper Pty Ltd boosted its position in Omnicom Group by 24.2% during the third quarter. AustralianSuper Pty Ltd now owns 129,755 shares of the business services provider’s stock valued at $10,579,000 after buying an additional 25,317 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Omnicom Group by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,529 shares of the business services provider’s stock worth $2,326,000 after purchasing an additional 2,868 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after acquiring an additional 2,820,553 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Omnicom Group by 29.1% during the third quarter. Ballentine Partners LLC now owns 10,651 shares of the business services provider’s stock valued at $868,000 after acquiring an additional 2,404 shares in the last quarter. Finally, Paragon Private Wealth Management LLC increased its holdings in Omnicom Group by 36.4% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 3,869 shares of the business services provider’s stock worth $315,000 after buying an additional 1,033 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. UBS Group increased their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a report on Friday, December 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Bank of America reaffirmed an “underperform” rating and set a $77.00 target price (down previously from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Finally, Morgan Stanley began coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.14.

Omnicom Group Stock Down 11.1%

NYSE:OMC opened at $68.05 on Wednesday. The company’s fifty day moving average price is $77.65 and its 200-day moving average price is $76.64. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The firm has a market capitalization of $13.13 billion, a P/E ratio of 10.05, a PEG ratio of 1.23 and a beta of 0.74. Omnicom Group Inc. has a 1-year low of $67.93 and a 1-year high of $89.27.

Omnicom Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, December 19th. This is an increase from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s dividend payout ratio (DPR) is currently 47.27%.

About Omnicom Group

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.