New York State Common Retirement Fund Purchases 5,271 Shares of Omnicom Group Inc. (OMC)
New York State Common Retirement Fund raised its position in Omnicom Group Inc. (NYSE:OMC) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 576,072 shares of the business services provider’s stock after buying an additional 5,271 shares during the period. New York State Common Retirement Fund owned about 0.25% of Omnicom Group worth $47,756,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in OMC. BlackRock Inc. boosted its position in Omnicom Group by 3,091.8% in the 1st quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock valued at $1,469,108,000 after buying an additional 16,507,161 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in Omnicom Group in the 2nd quarter valued at $153,358,000. Alliancebernstein L.P. boosted its position in Omnicom Group by 90.0% in the 2nd quarter. Alliancebernstein L.P. now owns 2,652,302 shares of the business services provider’s stock valued at $219,876,000 after buying an additional 1,256,005 shares during the last quarter. Morgan Stanley boosted its position in Omnicom Group by 268.1% in the 1st quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock valued at $141,325,000 after buying an additional 1,194,001 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in Omnicom Group by 21.3% in the 2nd quarter. Pzena Investment Management LLC now owns 5,978,986 shares of the business services provider’s stock valued at $495,658,000 after buying an additional 1,049,746 shares during the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.
In other Omnicom Group news, Treasurer Dennis E. Hewitt sold 900 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $79.11, for a total transaction of $71,199.00. Following the sale, the treasurer now owns 44,161 shares of the company’s stock, valued at $3,493,576.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Johnson Rice sold 483 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $82.19, for a total transaction of $39,697.77. Following the sale, the director now directly owns 7,724 shares in the company, valued at approximately $634,835.56. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group Inc. (NYSE OMC) opened at 74.23 on Friday. The firm’s 50-day moving average price is $75.34 and its 200 day moving average price is $81.20. Omnicom Group Inc. has a 12-month low of $71.63 and a 12-month high of $89.66. The company has a market capitalization of $17.13 billion, a price-to-earnings ratio of 14.99 and a beta of 1.27.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. Omnicom Group’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. On average, analysts expect that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Friday, September 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.20 dividend on an annualized basis and a yield of 2.96%. Omnicom Group’s dividend payout ratio (DPR) is currently 44.44%.
A number of research analysts have commented on the company. Macquarie lowered Omnicom Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $83.00 in a research report on Tuesday, June 6th. Zacks Investment Research upgraded Omnicom Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Royal Bank Of Canada set a $96.00 price objective on Omnicom Group and gave the company a “buy” rating in a research report on Saturday, July 22nd. Wells Fargo & Company reiterated a “hold” rating and issued a $84.00 price objective on shares of Omnicom Group in a research report on Tuesday, July 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 price objective on shares of Omnicom Group in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $85.92.
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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