Omnicom Group Inc. (NYSE:OMC) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,208 shares of the business services provider's stock after selling 20,247 shares during the quarter. New York State Common Retirement Fund owned about 0.09% of Omnicom Group worth $14,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lazard Asset Management LLC grew its stake in shares of Omnicom Group by 98.3% in the third quarter. Lazard Asset Management LLC now owns 3,032,265 shares of the business services provider's stock valued at $225,842,000 after buying an additional 1,503,249 shares in the last quarter. Boston Partners grew its stake in shares of Omnicom Group by 21.7% in the third quarter. Boston Partners now owns 3,727,701 shares of the business services provider's stock valued at $277,726,000 after buying an additional 664,800 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Omnicom Group by 8.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,745,400 shares of the business services provider's stock valued at $353,437,000 after buying an additional 374,874 shares in the last quarter. Northern Trust Corp grew its stake in shares of Omnicom Group by 13.2% in the third quarter. Northern Trust Corp now owns 2,590,980 shares of the business services provider's stock valued at $192,976,000 after buying an additional 301,927 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Omnicom Group in the fourth quarter valued at $21,936,000. Institutional investors and hedge funds own 91.97% of the company's stock.

Omnicom Group Stock Performance

Shares of Omnicom Group stock traded down $3.05 on Tuesday, hitting $92.84. The stock had a trading volume of 1,481,830 shares, compared to its average volume of 1,659,059. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $99.23. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.33. The stock has a market cap of $18.18 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 2.25 and a beta of 0.97. The company's 50 day moving average price is $92.57 and its 200 day moving average price is $86.37.

Omnicom Group (NYSE:OMC - Get Free Report) last posted 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 the consensus estimate of $4 billion. During the same period in the previous year, the business earned $2.09 EPS. The business's quarterly revenue was up 5.0% on a year-over-year basis. On average, research analysts anticipate that Omnicom Group Inc. will post 7.81 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, March 11th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, March 8th. Omnicom Group's dividend payout ratio (DPR) is presently 37.84%.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 507 shares of the business's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $86.66, for a total value of $43,936.62. Following the transaction, the director now owns 9,753 shares in the company, valued at approximately $845,194.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

OMC has been the subject of a number of research reports. Macquarie lifted their price objective on Omnicom Group from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Tuesday, April 2nd. Wells Fargo & Company upgraded Omnicom Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $91.00 to $106.00 in a report on Wednesday, April 17th. Moffett Nathanson lifted their target price on Omnicom Group from $89.00 to $93.00 and gave the company a "neutral" rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. lifted their target price on Omnicom Group from $104.00 to $108.00 and gave the company an "overweight" rating in a report on Wednesday, April 17th. Finally, Barclays lifted their price target on Omnicom Group from $95.00 to $100.00 and gave the stock an "equal weight" rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.40.

Omnicom Group 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.