Omnicom Group Inc. (NYSE:OMC) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its stake in Omnicom Group Inc. (NYSE:OMCFree Report) by 6.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 198,235 shares of the business services provider’s stock after selling 13,610 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.10% of Omnicom Group worth $14,765,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Omnicom Group in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Omnicom Group by 141.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 304 shares of the business services provider’s stock worth $29,000 after acquiring an additional 178 shares in the last quarter. KB Financial Partners LLC raised its position in shares of Omnicom Group by 1,326.1% during the 2nd quarter. KB Financial Partners LLC now owns 328 shares of the business services provider’s stock worth $31,000 after acquiring an additional 305 shares in the last quarter. Carolinas Wealth Consulting LLC raised its position in shares of Omnicom Group by 1,805.9% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 324 shares of the business services provider’s stock worth $31,000 after acquiring an additional 307 shares in the last quarter. Finally, Oakworth Capital Inc. raised its position in shares of Omnicom Group by 102.4% during the 2nd quarter. Oakworth Capital Inc. now owns 338 shares of the business services provider’s stock worth $32,000 after acquiring an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OMC shares. UBS Group started coverage on Omnicom Group in a research report on Thursday, January 11th. They set a “buy” rating and a $117.00 target price on the stock. Barclays lifted their price target on Omnicom Group from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Wells Fargo & Company lifted their price target on Omnicom Group from $85.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Morgan Stanley raised Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $90.00 to $100.00 in a research report on Friday, December 15th. Finally, JPMorgan Chase & Co. cut their price target on Omnicom Group from $106.00 to $104.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $99.22.

Read Our Latest Stock Report on OMC

Omnicom Group Stock Down 2.4 %

Omnicom Group stock opened at $84.59 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.95 and a quick ratio of 0.86. Omnicom Group Inc. has a 1-year low of $72.20 and a 1-year high of $99.23. The company has a market cap of $16.75 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97. The stock’s 50 day moving average price is $86.99 and its 200 day moving average price is $80.99.

Omnicom Group (NYSE:OMCGet Free Report) last posted its earnings results on Monday, February 5th. The business services provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. The company had revenue of $4.06 billion for the quarter, compared to the consensus estimate of $4 billion. Omnicom Group had a return on equity of 39.07% and a net margin of 9.47%. Omnicom Group’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. On average, sell-side analysts predict that Omnicom Group Inc. will post 7.71 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 22nd were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, December 21st. This represents a $2.80 dividend on an annualized basis and a yield of 3.31%. Omnicom Group’s payout ratio is 40.46%.

About Omnicom Group

(Free Report)

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 brand consulting, experiential, execution and support, public relations, and healthcare.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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