Public Employees Retirement System of Ohio Decreases Stake in Omnicom Group Inc. $OMC

Public Employees Retirement System of Ohio lessened its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 13.7% during the second quarter, HoldingsChannel reports. The fund owned 85,021 shares of the business services provider’s stock after selling 13,448 shares during the period. Public Employees Retirement System of Ohio’s holdings in Omnicom Group were worth $6,192,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OMC. Keating Financial Advisory Services Inc. acquired a new stake in Omnicom Group in the second quarter valued at $25,000. Elyxium Wealth LLC purchased a new position in shares of Omnicom Group in the 4th quarter valued at about $26,000. Legacy Wealth Managment LLC ID lifted its stake in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. EFG International AG acquired a new stake in shares of Omnicom Group in the fourth quarter valued at about $28,000. Finally, Caitlin John LLC boosted its holdings in Omnicom Group by 4,675.0% during the fourth quarter. Caitlin John LLC now owns 382 shares of the business services provider’s stock worth $31,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Activity

In related news, Director Linda Johnson Rice sold 1,385 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total transaction of $122,891.05. Following the sale, the director owned 11,719 shares in the company, valued at approximately $1,039,826.87. This trade represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Omnicom Group Stock Down 1.8%

Shares of NYSE:OMC opened at $85.93 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $23.57 billion, a P/E ratio of 74.08, a P/E/G ratio of 0.58 and a beta of 0.65. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.57. The stock’s fifty day simple moving average is $82.27 and its 200-day simple moving average is $78.46.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to analyst estimates of $6.44 billion. Omnicom Group had a net margin of 1.74% and a return on equity of 24.73%. The company’s revenue for the quarter was up 63.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. As a group, equities research analysts forecast that Omnicom Group Inc. will post 10.35 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s payout ratio is currently 275.86%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their price target on Omnicom Group from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. The Goldman Sachs Group assumed coverage on Omnicom Group in a report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price objective for the company. Finally, Rothschild & Co Redburn began coverage on Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $99.00.

Omnicom Group Profile

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.