Public Employees Retirement System of Ohio Increases Position in Omnicom Group Inc. (NYSE:OMC)

Public Employees Retirement System of Ohio lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,836 shares of the business services provider’s stock after acquiring an additional 2,021 shares during the period. Public Employees Retirement System of Ohio’s holdings in Omnicom Group were worth $7,841,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Boston Trust Walden Corp raised its holdings in Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock worth $16,723,000 after purchasing an additional 14,153 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of Omnicom Group by 16.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock worth $295,000 after buying an additional 401 shares during the last quarter. Assetmark Inc. raised its stake in shares of Omnicom Group by 2.0% during the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock worth $50,562,000 after acquiring an additional 9,774 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Omnicom Group by 40.9% during the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock valued at $3,077,000 after acquiring an additional 8,643 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its stake in Omnicom Group by 569.2% in the third quarter. Transamerica Financial Advisors Inc. now owns 10,881 shares of the business services provider’s stock valued at $1,125,000 after acquiring an additional 9,255 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Stock Performance

Shares of NYSE OMC opened at $90.16 on Friday. The company has a 50 day simple moving average of $102.03 and a two-hundred day simple moving average of $97.29. The stock has a market cap of $17.59 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.32 and a beta of 0.94. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 12 month low of $82.97 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the firm posted $1.86 earnings per share. As a group, analysts predict that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.11%. Omnicom Group’s payout ratio is 38.25%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday. Macquarie reiterated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research note on Wednesday. Bank of America boosted their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Barclays increased their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $108.89.

Omnicom Group Company 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.