Oregon Public Employees Retirement Fund Sells 111 Shares of Omnicom Group Inc. (NYSE:OMC)

Oregon Public Employees Retirement Fund cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 0.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 16,785 shares of the business services provider’s stock after selling 111 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Omnicom Group were worth $1,506,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in OMC. Jackson Creek Investment Advisors LLC acquired a new stake in Omnicom Group in the 2nd quarter valued at about $626,000. Legacy Capital Wealth Partners LLC bought a new position in Omnicom Group in the 2nd quarter worth approximately $241,000. RWC Asset Management LLP lifted its holdings in Omnicom Group by 0.5% during the 2nd quarter. RWC Asset Management LLP now owns 430,753 shares of the business services provider’s stock worth $38,639,000 after buying an additional 1,936 shares in the last quarter. TIAA Trust National Association boosted its position in Omnicom Group by 5.7% in the 2nd quarter. TIAA Trust National Association now owns 3,628 shares of the business services provider’s stock valued at $325,000 after buying an additional 196 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Omnicom Group by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 417,825 shares of the business services provider’s stock valued at $37,479,000 after buying an additional 10,449 shares during the period. 91.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OMC shares. UBS Group upped their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Macquarie reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.30.

Omnicom Group Stock Down 1.2 %

Shares of NYSE OMC opened at $98.74 on Friday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $102.13. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. The stock has a market cap of $19.34 billion, a P/E ratio of 13.34, a P/E/G ratio of 2.36 and a beta of 0.94. The firm has a 50 day moving average price of $94.40 and a 200 day moving average price of $93.22.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same quarter in the previous year, the business earned $1.81 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. Analysts expect that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. Omnicom Group’s dividend payout ratio (DPR) is currently 37.84%.

Insiders Place Their Bets

In other news, Director Linda Johnson Rice sold 488 shares of Omnicom Group stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.