New York State Common Retirement Fund Sells 6,100 Shares of Omnicom Group Inc. (NYSE:OMC)

New York State Common Retirement Fund cut its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,982 shares of the business services provider's stock after selling 6,100 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Omnicom Group worth $9,036,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Omnicom Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 23,041,818 shares of the business services provider's stock worth $1,982,518,000 after acquiring an additional 99,424 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider's stock worth $513,922,000 after buying an additional 1,992,695 shares in the last quarter. Geode Capital Management LLC boosted its stake in Omnicom Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,151,708 shares of the business services provider's stock worth $442,453,000 after buying an additional 51,148 shares in the last quarter. First Trust Advisors LP boosted its stake in Omnicom Group by 23.8% during the fourth quarter. First Trust Advisors LP now owns 3,882,800 shares of the business services provider's stock worth $334,076,000 after buying an additional 747,575 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its stake in Omnicom Group by 7.1% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 3,401,890 shares of the business services provider's stock worth $292,698,000 after buying an additional 224,870 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

OMC stock traded up $4.25 during trading hours on Tuesday, hitting $74.66. 2,566,060 shares of the stock were exchanged, compared to its average volume of 2,750,808. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $14.46 billion, a P/E ratio of 10.70, a P/E/G ratio of 1.41 and a beta of 0.92. The company has a 50-day simple moving average of $72.86 and a two-hundred day simple moving average of $77.92. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00.

Omnicom Group (NYSE:OMC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.03. The company had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. Omnicom Group's revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $1.95 earnings per share. On average, analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a $0.70 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.75%. Omnicom Group's dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OMC shares. Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Monday, June 23rd. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. Citigroup reiterated a "buy" rating and set a $103.00 price target on shares of Omnicom Group in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a report on Thursday, July 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $94.43.

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.