Retirement Systems of Alabama Has $5.48 Million Stake in Omnicom Group Inc. $OMC

Retirement Systems of Alabama increased its position in Omnicom Group Inc. (NYSE:OMC) by 64.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,860 shares of the business services provider’s stock after purchasing an additional 26,537 shares during the quarter. Retirement Systems of Alabama’s holdings in Omnicom Group were worth $5,480,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its holdings in shares of Omnicom Group by 2,126.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 319 shares during the period. Meeder Asset Management Inc. increased its stake in Omnicom Group by 289.4% in the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Capital A Wealth Management LLC increased its stake in Omnicom Group by 548.3% in the second quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 318 shares during the period. Westside Investment Management Inc. raised its position in Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock worth $31,000 after purchasing an additional 202 shares in the last quarter. Finally, Wealth Watch Advisors INC acquired a new position in Omnicom Group in the third quarter worth about $34,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OMC shares. Citigroup lifted their price objective on Omnicom Group from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, February 20th. Weiss Ratings restated a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. UBS Group boosted their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Morgan Stanley began coverage on Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price target on the stock. Finally, Barclays increased their price objective on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Omnicom Group presently has an average rating of “Hold” and an average target price of $95.86.

Omnicom Group Stock Performance

NYSE OMC opened at $74.76 on Monday. The firm has a market cap of $21.31 billion, a price-to-earnings ratio of 152.58, a PEG ratio of 0.61 and a beta of 0.73. The company has a 50 day moving average of $76.76 and a 200-day moving average of $76.90. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 0.60. Omnicom Group Inc. has a 1-year low of $66.33 and a 1-year high of $87.17.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing the consensus estimate of $2.94 by ($0.35). The business had revenue of $5.53 billion during the quarter, compared to analyst estimates of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The firm’s revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.41 earnings per share. On average, equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, March 11th. Omnicom Group’s dividend payout ratio is presently 653.06%.

Omnicom Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the business services provider to reacquire up to 38.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.