California Public Employees Retirement System increased its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 26.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 863,499 shares of the business services provider’s stock after purchasing an additional 182,626 shares during the period. California Public Employees Retirement System owned approximately 0.38% of Omnicom Group worth $65,859,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. IFM Investors Pty Ltd boosted its position in Omnicom Group by 10.8% in the 1st quarter. IFM Investors Pty Ltd now owns 7,353 shares of the business services provider’s stock valued at $534,000 after buying an additional 719 shares during the period. Comerica Bank boosted its position in Omnicom Group by 1.3% in the 2nd quarter. Comerica Bank now owns 56,064 shares of the business services provider’s stock valued at $3,963,000 after buying an additional 742 shares during the period. Blair William & Co. IL boosted its position in Omnicom Group by 0.3% in the 1st quarter. Blair William & Co. IL now owns 268,745 shares of the business services provider’s stock valued at $19,530,000 after buying an additional 768 shares during the period. BKD Wealth Advisors LLC boosted its position in Omnicom Group by 3.3% in the 2nd quarter. BKD Wealth Advisors LLC now owns 24,479 shares of the business services provider’s stock valued at $1,867,000 after buying an additional 773 shares during the period. Finally, Boston Financial Mangement LLC boosted its position in Omnicom Group by 25.9% in the 2nd quarter. Boston Financial Mangement LLC now owns 3,813 shares of the business services provider’s stock valued at $291,000 after buying an additional 785 shares during the period.
NYSE:OMC traded up $0.53 during midday trading on Friday, hitting $68.60. 2,021,962 shares of the company were exchanged, compared to its average volume of 2,250,038. Omnicom Group Inc. has a fifty-two week low of $65.32 and a fifty-two week high of $83.34. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.89 and a quick ratio of 0.78. The firm has a market capitalization of $15.26 billion, a P/E ratio of 13.45, a P/E/G ratio of 2.17 and a beta of 1.06.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 17th. The business services provider reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.06. Omnicom Group had a net margin of 7.45% and a return on equity of 40.82%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same period last year, the business earned $1.40 EPS. Omnicom Group’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Omnicom Group Inc. will post 5.58 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Friday, September 21st were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, September 20th. This represents a $2.40 annualized dividend and a yield of 3.50%. Omnicom Group’s dividend payout ratio is currently 47.06%.
OMC has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Omnicom Group to $75.00 and set a “$70.60” rating on the stock in a report on Wednesday, July 18th. BMO Capital Markets restated a “buy” rating and issued a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 19th. Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Argus lowered shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Finally, ValuEngine upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.91.
In related news, Director Linda Johnson Rice sold 475 shares of Omnicom Group stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $70.02, for a total transaction of $33,259.50. Following the sale, the director now directly owns 7,966 shares in the company, valued at approximately $557,779.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,075 shares of company stock worth $74,289 over the last quarter. 1.20% of the stock is owned by company insiders.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.
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