Omnicom Group Inc. (NYSE:OMC) Shares Sold by New Mexico Educational Retirement Board
New Mexico Educational Retirement Board lowered its position in Omnicom Group Inc. (NYSE:OMC) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 21,634 shares of the business services provider’s stock after selling 2,100 shares during the period. New Mexico Educational Retirement Board’s holdings in Omnicom Group were worth $1,703,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Stifel Financial Corp raised its stake in Omnicom Group by 5.8% in the first quarter. Stifel Financial Corp now owns 41,956 shares of the business services provider’s stock worth $3,613,000 after buying an additional 2,291 shares in the last quarter. Morgan Stanley raised its stake in Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock worth $141,325,000 after buying an additional 1,194,001 shares in the last quarter. Geode Capital Management LLC raised its stake in Omnicom Group by 7.7% in the first quarter. Geode Capital Management LLC now owns 2,460,551 shares of the business services provider’s stock worth $211,836,000 after buying an additional 175,835 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new stake in Omnicom Group during the second quarter worth approximately $153,358,000. Finally, Cribstone Capital Management LLC acquired a new stake in Omnicom Group during the first quarter worth approximately $164,000. 98.68% of the stock is currently owned by institutional investors.
Omnicom Group Inc. (NYSE OMC) opened at 77.75 on Friday. Omnicom Group Inc. has a 1-year low of $77.50 and a 1-year high of $89.66. The firm has a 50-day moving average price of $80.76 and a 200-day moving average price of $83.41. The company has a market capitalization of $17.94 billion, a P/E ratio of 15.70 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.02. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the prior year, the business earned $1.36 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts forecast that Omnicom Group Inc. will post $5.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 21st. Omnicom Group’s dividend payout ratio (DPR) is presently 44.44%.
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A number of equities research analysts have recently commented on OMC shares. Evercore ISI started coverage on Omnicom Group in a research report on Monday, April 17th. They set an “in-line” rating and a $91.00 price target on the stock. They noted that the move was a valuation call. Credit Suisse Group reaffirmed a “neutral” rating and set a $79.00 price target (down previously from $81.00) on shares of Omnicom Group in a research report on Friday, July 14th. Wells Fargo & Company reiterated a “hold” rating and set a $84.00 price objective on shares of Omnicom Group in a report on Tuesday, July 18th. Zacks Investment Research downgraded Omnicom Group from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Barclays PLC reiterated a “hold” rating and set a $86.00 price objective on shares of Omnicom Group in a report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.00.
In other news, Chairman Bruce Crawford sold 22,800 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total value of $1,935,948.00. Following the completion of the sale, the chairman now directly owns 105,250 shares of the company’s stock, valued at $8,936,777.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the completion of the sale, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,183 shares of company stock valued at $2,046,845. Company insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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