Kentucky Retirement Systems Insurance Trust Fund Has $632,000 Stake in Omnicom Group Inc. (NYSE:OMC)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in Omnicom Group Inc. (NYSE:OMC) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,534 shares of the business services provider’s stock after selling 518 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Omnicom Group were worth $632,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in shares of Omnicom Group during the 4th quarter valued at about $26,000. Frazier Financial Advisors LLC bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. boosted its stake in Omnicom Group by 61.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock valued at $28,000 after buying an additional 125 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in Omnicom Group in the fourth quarter valued at $29,000. Finally, First United Bank & Trust acquired a new position in Omnicom Group during the fourth quarter worth $35,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on OMC shares. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $91.00 to $106.00 in a research note on Wednesday, April 17th. UBS Group raised their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Macquarie reissued an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, Moffett Nathanson raised their target price on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.70.

Insiders Place Their Bets

In related news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 2.2 %

OMC traded up $2.08 during trading on Friday, reaching $95.43. 2,018,439 shares of the company’s stock were exchanged, compared to its average volume of 1,741,401. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $98.06. The company’s fifty day moving average price is $91.38 and its 200-day moving average price is $91.57. The firm has a market capitalization of $18.67 billion, a PE ratio of 12.90, a P/E/G ratio of 2.25 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period last year, the business posted $1.81 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, equities analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.93%. Omnicom Group’s payout ratio is 37.84%.

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.