California Public Employees Retirement System Decreases Stock Position in Omnicom Group Inc. (NYSE:OMC)

California Public Employees Retirement System lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 1.8% in the fourth quarter, Holdings Channel reports. The fund owned 1,104,617 shares of the business services provider’s stock after selling 20,243 shares during the quarter. California Public Employees Retirement System’s holdings in Omnicom Group were worth $95,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OMC. Foster & Motley Inc. boosted its stake in shares of Omnicom Group by 10.0% during the 4th quarter. Foster & Motley Inc. now owns 112,261 shares of the business services provider’s stock valued at $9,712,000 after buying an additional 10,175 shares during the last quarter. Monument Capital Management boosted its stake in shares of Omnicom Group by 126.3% during the 4th quarter. Monument Capital Management now owns 6,186 shares of the business services provider’s stock valued at $535,000 after buying an additional 3,453 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Omnicom Group by 4.6% during the 4th quarter. Handelsbanken Fonder AB now owns 31,013 shares of the business services provider’s stock valued at $2,683,000 after buying an additional 1,360 shares during the last quarter. CWM LLC boosted its stake in shares of Omnicom Group by 0.6% during the 4th quarter. CWM LLC now owns 51,913 shares of the business services provider’s stock valued at $4,491,000 after buying an additional 326 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Omnicom Group by 21.4% during the 4th quarter. Signaturefd LLC now owns 4,985 shares of the business services provider’s stock valued at $431,000 after buying an additional 879 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OMC shares. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $91.00 to $106.00 in a research note on Wednesday, April 17th. Barclays upped their price target on Omnicom Group from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. StockNews.com raised Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Moffett Nathanson upped their price target on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. increased their target price on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $103.40.

Omnicom Group Trading Up 1.9 %

Shares of OMC stock opened at $95.98 on Thursday. The stock has a 50-day simple moving average of $92.04 and a 200 day simple moving average of $85.85. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $99.23. The stock has a market capitalization of $18.80 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.21 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33.

Omnicom Group (NYSE:OMC) last announced its earnings results on Monday, February 5th. The business services provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The business had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter last year, the business posted $2.09 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.81 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.80 annualized dividend and a yield of 2.92%. Omnicom Group’s dividend payout ratio is currently 37.84%.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total transaction of $43,936.62. Following the completion of the transaction, the director now owns 9,753 shares of the company’s stock, valued at $845,194.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.

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.