Retirement Systems of Alabama Sells 499 Shares of Omnicom Group Inc. (NYSE:OMC)

Retirement Systems of Alabama trimmed its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,200 shares of the business services provider’s stock after selling 499 shares during the quarter. Retirement Systems of Alabama’s holdings in Omnicom Group were worth $3,875,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new position in Omnicom Group in the 4th quarter worth about $26,000. Richardson Financial Services Inc. bought a new position in Omnicom Group in the 4th quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Omnicom Group in the 2nd quarter worth about $33,000. First United Bank & Trust bought a new position in Omnicom Group in the 4th quarter worth about $35,000. Finally, EverSource Wealth Advisors LLC increased its stake in Omnicom Group by 47.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock worth $37,000 after acquiring an additional 139 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 0.3 %

Shares of OMC stock opened at $99.11 on Wednesday. The stock has a market capitalization of $19.41 billion, a PE ratio of 13.39, a P/E/G ratio of 2.24 and a beta of 0.95. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $99.89. The business has a 50-day moving average of $92.73 and a 200 day moving average of $92.46. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. Omnicom Group’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 EPS. As a group, sell-side analysts anticipate that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OMC. UBS Group upped their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Macquarie reiterated an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a report on Wednesday, July 17th. Finally, Barclays upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $100.00 to $110.00 in a report on Tuesday, May 7th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $104.70.

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.