State Board of Administration of Florida Retirement System Grows Stake in Omnicom Group Inc. (NYSE:OMC)

State Board of Administration of Florida Retirement System increased its stake in Omnicom Group Inc. (NYSE:OMC) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,537 shares of the business services provider’s stock after acquiring an additional 23,206 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.11% of Omnicom Group worth $20,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. purchased a new position in shares of Omnicom Group during the fourth quarter valued at approximately $93,634,000. Morningstar Investment Services LLC boosted its position in shares of Omnicom Group by 98.7% during the fourth quarter. Morningstar Investment Services LLC now owns 1,199,557 shares of the business services provider’s stock valued at $104,037,000 after buying an additional 595,746 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Omnicom Group by 88.9% during the fourth quarter. Point72 Asset Management L.P. now owns 1,161,477 shares of the business services provider’s stock valued at $100,479,000 after buying an additional 546,577 shares during the period. Junto Capital Management LP purchased a new position in shares of Omnicom Group during the fourth quarter valued at approximately $43,502,000. Finally, Kodai Capital Management LP purchased a new position in shares of Omnicom Group during the fourth quarter valued at approximately $27,419,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 453 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now owns 9,830 shares in the company, valued at approximately $911,044.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock traded up $0.67 during mid-day trading on Thursday, hitting $92.19. 1,232,238 shares of the stock were exchanged, compared to its average volume of 1,615,586. The firm has a fifty day moving average of $91.94 and a 200 day moving average of $91.26. The company has a quick ratio of 0.81, a current ratio of 0.93 and a debt-to-equity ratio of 1.33. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $98.06. The company has a market cap of $18.05 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.86%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same period in the prior year, the company posted $1.81 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts anticipate that Omnicom Group Inc. will post 7.84 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 10th were given a dividend of $0.70 per share. The ex-dividend date was Monday, June 10th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Analyst Upgrades and Downgrades

OMC has been the subject of a number of research reports. UBS Group boosted their price target on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $100.00 to $110.00 in a research report on Tuesday, May 7th. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Macquarie reissued an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a report on Wednesday. Finally, Moffett Nathanson upped their price target on shares of Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $104.70.

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.