Omnicom Group Inc. (NYSE:OMC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 6.6% in the third quarter, HoldingsChannel.com reports. The fund owned 14,823 shares of the business services provider’s stock after selling 1,055 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Omnicom Group were worth $1,532,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in Omnicom Group by 11.8% during the 3rd quarter. Toronto Dominion Bank now owns 85,961 shares of the business services provider’s stock worth $8,888,000 after buying an additional 9,075 shares during the last quarter. Coldstream Capital Management Inc. grew its position in shares of Omnicom Group by 189.7% during the third quarter. Coldstream Capital Management Inc. now owns 6,574 shares of the business services provider’s stock worth $679,000 after acquiring an additional 4,305 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Omnicom Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,100,560 shares of the business services provider’s stock worth $525,960,000 after acquiring an additional 72,447 shares during the period. Prestige Wealth Management Group LLC lifted its position in Omnicom Group by 24.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,779 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 734 shares during the last quarter. Finally, Brophy Wealth Management LLC acquired a new position in Omnicom Group during the 3rd quarter valued at about $526,000. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OMC has been the topic of several analyst reports. Macquarie restated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Bank of America raised their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Finally, UBS Group boosted their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Omnicom Group Stock Down 2.1 %

OMC stock opened at $88.96 on Wednesday. The firm has a market cap of $17.36 billion, a PE ratio of 12.15, a P/E/G ratio of 2.07 and a beta of 0.94. Omnicom Group Inc. has a 12 month low of $84.43 and a 12 month high of $107.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $101.13 and a 200 day simple moving average of $97.25.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same quarter in the prior year, the firm earned $1.86 EPS. Equities research analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be given a $0.70 dividend. The ex-dividend date is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.15%. Omnicom Group’s dividend payout ratio (DPR) is 38.25%.

Insider Buying and Selling

In related news, CAO Andrew Castellaneta sold 4,000 shares of the firm’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 approximately $2,479,053.05. This trade represents a 14.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

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.