State of New Jersey Common Pension Fund D Sells 8,047 Shares of Omnicom Group Inc. $OMC

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Omnicom Group Inc. by 11.8%, selling 8,047 shares during the first quarter, leaving it with a total of 60,295 shares valued at $4,999,000.
• Omnicom Group recently reported an earnings per share of $2.05 for the quarter, surpassing estimates, and had a net margin of 8.67%.
• The company announced a quarterly dividend of $0.70 per share, resulting in an annualized dividend yield of 3.7%, with a payout ratio of 40.17%.

State of New Jersey Common Pension Fund D lowered its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 60,295 shares of the business services provider's stock after selling 8,047 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Omnicom Group were worth $4,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of OMC. Johnson Financial Group Inc. lifted its stake in shares of Omnicom Group by 153.8% in the 4th quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock valued at $29,000 after purchasing an additional 200 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Omnicom Group in the 1st quarter valued at approximately $34,000. Versant Capital Management Inc lifted its stake in shares of Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after purchasing an additional 143 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Omnicom Group by 708.8% in the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after purchasing an additional 404 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider's stock valued at $41,000 after purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Bank of America upgraded Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 target price for the company in a research note on Monday, June 23rd. Wells Fargo & Company lowered their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 16th. Finally, Barclays cut Omnicom Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of "Moderate Buy" and an average price target of $94.43.

Omnicom Group Stock Up 2.6%

OMC stock traded up $2.0480 on Friday, reaching $79.5280. 4,736,853 shares of the company traded hands, compared to its average volume of 3,394,241. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market cap of $15.41 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.94. The firm has a fifty day simple moving average of $73.44 and a 200-day simple moving average of $76.02.

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

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's dividend payout ratio (DPR) is 40.17%.

About Omnicom Group

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.