State of Michigan Retirement System Sells 1,000 Shares of Omnicom Group Inc. (NYSE:OMC)

State of Michigan Retirement System decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,884 shares of the business services provider’s stock after selling 1,000 shares during the quarter. State of Michigan Retirement System’s holdings in Omnicom Group were worth $4,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in Omnicom Group during the 4th quarter worth approximately $25,000. Versant Capital Management Inc increased its holdings in shares of Omnicom Group by 645.2% during the fourth quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after buying an additional 271 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Omnicom Group by 146.6% during the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after buying an additional 195 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Omnicom Group in the 3rd quarter valued at $55,000. Finally, Trust Co. of Vermont boosted its holdings in shares of Omnicom Group by 742.4% during the 4th quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 490 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OMC shares. Wells Fargo & Company lowered their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating for the company in a report on Tuesday, December 10th. Barclays lowered their price objective on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Stock Up 0.4 %

Shares of NYSE OMC opened at $82.54 on Friday. Omnicom Group Inc. has a 52-week low of $79.57 and a 52-week high of $107.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The company’s 50 day moving average price is $84.45 and its 200-day moving average price is $94.45. The company has a market capitalization of $16.22 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a net margin of 9.44% and a return on equity of 36.39%. During the same period last year, the business earned $2.20 EPS. Equities analysts forecast that Omnicom Group Inc. will post 8.25 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 11th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. Omnicom Group’s payout ratio is 37.58%.

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.