New York State Common Retirement Fund Sells 20,247 Shares of Omnicom Group Inc. (NYSE:OMC)

New York State Common Retirement Fund reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 10.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 171,208 shares of the business services provider’s stock after selling 20,247 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Omnicom Group worth $14,811,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OMC. OFI Invest Asset Management purchased a new position in Omnicom Group in the 3rd quarter worth about $25,000. Pinnacle Bancorp Inc. lifted 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 valued at $28,000 after purchasing an additional 125 shares during the period. Authentikos Wealth Advisory LLC purchased a new stake in Omnicom Group in the third quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV grew its holdings in shares of Omnicom Group by 116.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the business services provider’s stock worth $52,000 after acquiring an additional 323 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Omnicom Group by 49.2% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 250 shares during the period. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OMC shares. Barclays boosted their price objective on shares of Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. BNP Paribas raised shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, March 28th. UBS Group began coverage on shares of Omnicom Group in a research report on Thursday, January 11th. They set a “buy” rating and a $117.00 price objective on the stock. Moffett Nathanson upped their target price on shares of Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Insider Activity at Omnicom Group

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

Omnicom Group Price Performance

NYSE OMC opened at $95.89 on Tuesday. The stock has a 50 day moving average price of $92.57 and a 200-day moving average price of $86.37. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $99.23. The company has a market capitalization of $18.78 billion, a P/E ratio of 12.96, a P/E/G ratio of 2.25 and a beta of 0.97. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Monday, February 5th. The business services provider reported $2.20 EPS 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 business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period last year, the company posted $2.09 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, equities analysts predict that Omnicom Group Inc. will post 7.81 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Monday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, March 8th. Omnicom Group’s dividend payout ratio is currently 37.84%.

Omnicom Group Profile

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.