Public Employees Retirement Association of Colorado Has $2 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

Public Employees Retirement Association of Colorado lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,659 shares of the business services provider’s stock after selling 1,093 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Omnicom Group were worth $1,999,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norden Group LLC acquired a new position in Omnicom Group in the first quarter valued at about $1,860,000. Arvest Investments Inc. acquired a new position in Omnicom Group during the fourth quarter worth about $1,969,000. Sequoia Financial Advisors LLC raised its stake in Omnicom Group by 1,627.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock worth $5,752,000 after acquiring an additional 62,640 shares in the last quarter. Kodai Capital Management LP acquired a new position in Omnicom Group during the fourth quarter worth about $27,419,000. Finally, Truist Financial Corp raised its stake in Omnicom Group by 4.8% during the fourth quarter. Truist Financial Corp now owns 463,497 shares of the business services provider’s stock worth $40,097,000 after acquiring an additional 21,018 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $92.68, for a total value of $41,984.04. Following the sale, the director now directly owns 9,830 shares in the company, valued at $911,044.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Stock Performance

Shares of OMC stock opened at $95.48 on Tuesday. The business’s 50 day simple moving average is $91.37 and its 200 day simple moving average is $91.61. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $98.06. The stock has a market capitalization of $18.68 billion, a PE ratio of 12.90, a PEG ratio of 2.25 and a beta of 0.95. 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 announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the business posted $1.81 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. As a group, research analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s payout ratio is presently 37.84%.

Wall Street Analyst Weigh In

Several research analysts have commented on OMC shares. JPMorgan Chase & Co. boosted their target price on Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. StockNews.com upgraded Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Moffett Nathanson boosted their price target on Omnicom Group from $89.00 to $93.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, UBS Group boosted their price target on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.