Public Sector Pension Investment Board Acquires 900 Shares of Omnicom Group Inc. (NYSE:OMC)

Public Sector Pension Investment Board raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,522 shares of the business services provider’s stock after acquiring an additional 900 shares during the quarter. Public Sector Pension Investment Board’s holdings in Omnicom Group were worth $881,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in Omnicom Group by 37.0% during the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock worth $296,717,000 after buying an additional 892,494 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Omnicom Group during the 2nd quarter worth approximately $56,177,000. Dimensional Fund Advisors LP grew its holdings in Omnicom Group by 18.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,293,095 shares of the business services provider’s stock valued at $205,682,000 after purchasing an additional 364,665 shares during the period. Conning Inc. acquired a new position in Omnicom Group during the second quarter valued at approximately $32,484,000. Finally, Millennium Management LLC increased its stake in Omnicom Group by 73.0% in the second quarter. Millennium Management LLC now owns 768,328 shares of the business services provider’s stock valued at $68,919,000 after purchasing an additional 324,196 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $106.00 to $110.00 in a report on Wednesday, October 16th. Macquarie lifted their price objective on Omnicom Group from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America boosted their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. Finally, UBS Group raised their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Omnicom Group Price Performance

Shares of OMC opened at $103.42 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a twelve month low of $81.41 and a twelve month high of $107.00. The stock has a market capitalization of $20.18 billion, a P/E ratio of 14.13, a P/E/G ratio of 2.32 and a beta of 0.94. The company has a 50 day moving average of $102.64 and a 200-day moving average of $97.34.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter last year, the firm earned $1.86 earnings per share. As a group, equities research analysts forecast that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 annualized dividend and a yield of 2.71%. Omnicom Group’s payout ratio is presently 38.25%.

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.