New York State Common Retirement Fund Sells 7,000 Shares of Omnicom Group Inc. (NYSE:OMC)

New York State Common Retirement Fund cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 5.7% during the 4th quarter, Holdings Channel reports. The fund owned 115,082 shares of the business services provider’s stock after selling 7,000 shares during the period. New York State Common Retirement Fund’s holdings in Omnicom Group were worth $9,902,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Omnicom Group by 57.3% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,114 shares of the business services provider’s stock worth $784,000 after purchasing an additional 3,321 shares in the last quarter. Proactive Wealth Strategies LLC increased its position in Omnicom Group by 6.7% in the 4th quarter. Proactive Wealth Strategies LLC now owns 3,486 shares of the business services provider’s stock valued at $300,000 after buying an additional 220 shares in the last quarter. BKM Wealth Management LLC boosted its holdings in Omnicom Group by 8.9% in the fourth quarter. BKM Wealth Management LLC now owns 13,916 shares of the business services provider’s stock worth $1,197,000 after acquiring an additional 1,134 shares in the last quarter. Kestra Investment Management LLC boosted its holdings in Omnicom Group by 63.8% in the fourth quarter. Kestra Investment Management LLC now owns 4,156 shares of the business services provider’s stock worth $358,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in Omnicom Group by 34.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 6,465 shares of the business services provider’s stock valued at $558,000 after acquiring an additional 1,661 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $83.84 on Wednesday. The company has a market capitalization of $16.47 billion, a PE ratio of 11.25, a PEG ratio of 1.94 and a beta of 0.97. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 1.27. The stock’s 50 day moving average price is $85.19 and its 200-day moving average price is $95.08. Omnicom Group Inc. has a twelve month low of $80.31 and a twelve month high of $107.00.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the previous year, the company earned $2.20 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.58%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. Barclays reduced their price objective on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Argus lowered Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

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.