New York State Teachers Retirement System Sells 13,649 Shares of Omnicom Group Inc. (NYSE:OMC)

New York State Teachers Retirement System reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,723 shares of the business services provider’s stock after selling 13,649 shares during the quarter. New York State Teachers Retirement System’s holdings in Omnicom Group were worth $13,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Compagnie Lombard Odier SCmA purchased a new stake in Omnicom Group in the fourth quarter valued at approximately $366,000. Asset Management One Co. Ltd. raised its stake in Omnicom Group by 1.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 73,809 shares of the business services provider’s stock valued at $6,384,000 after purchasing an additional 835 shares in the last quarter. Avestar Capital LLC raised its stake in Omnicom Group by 19.7% in the fourth quarter. Avestar Capital LLC now owns 2,596 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 427 shares in the last quarter. Van ECK Associates Corp raised its stake in Omnicom Group by 10.7% in the fourth quarter. Van ECK Associates Corp now owns 99,353 shares of the business services provider’s stock valued at $8,549,000 after purchasing an additional 9,590 shares in the last quarter. Finally, Edmp Inc. raised its stake in Omnicom Group by 20.2% in the fourth quarter. Edmp Inc. now owns 8,139 shares of the business services provider’s stock valued at $700,000 after purchasing an additional 1,366 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Up 0.4 %

Shares of Omnicom Group stock opened at $82.28 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 1.00. Omnicom Group Inc. has a 52-week low of $80.31 and a 52-week high of $107.00. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 11.04, a P/E/G ratio of 1.94 and a beta of 0.97. The company’s 50 day moving average price is $86.29 and its 200-day moving average price is $95.52.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same period in the previous year, the business earned $2.20 EPS. Equities research analysts forecast that Omnicom Group Inc. will post 8.32 EPS for the current year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is 37.58%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OMC. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday. Macquarie reissued an “outperform” rating and set a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. JPMorgan Chase & Co. decreased their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Finally, Barclays decreased their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.25.

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.