Retirement Systems of Alabama Lowers Stock Position in Omnicom Group Inc. (NYSE:OMC)

Retirement Systems of Alabama cut its position in shares of Omnicom Group Inc. (NYSE:OMC) by 1.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,699 shares of the business services provider’s stock after selling 501 shares during the quarter. Retirement Systems of Alabama’s holdings in Omnicom Group were worth $4,415,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Omnicom Group in the 2nd quarter worth approximately $33,000. Northwest Investment Counselors LLC bought a new stake in Omnicom Group during the third quarter worth $33,000. Davis Capital Management bought a new stake in Omnicom Group during the third quarter worth $36,000. HM Payson & Co. boosted its position in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its stake in Omnicom Group by 66.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 562 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 224 shares during the period. 91.97% of the stock is owned by institutional investors.

Omnicom Group Stock Up 0.2 %

OMC opened at $87.89 on Friday. Omnicom Group Inc. has a 12 month low of $84.43 and a 12 month high of $107.00. The company has a market cap of $17.15 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $100.56 and a 200 day moving average of $97.12.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the company earned $1.86 earnings per share. On average, sell-side analysts expect that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, December 20th. Omnicom Group’s payout ratio is presently 38.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on OMC shares. UBS Group lifted their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company lowered their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 10th. JPMorgan Chase & Co. increased their target price on shares of Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, Barclays increased their price objective on Omnicom Group from $110.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Insider Activity

In other Omnicom Group news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

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.