Texas Permanent School Fund Corp Sells 8,198 Shares of Omnicom Group Inc. (NYSE:OMC)

Texas Permanent School Fund Corp cut its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 20.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,732 shares of the business services provider’s stock after selling 8,198 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Omnicom Group were worth $2,936,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMC. Beutel Goodman & Co Ltd. raised its holdings in shares of Omnicom Group by 1.0% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 4,197,767 shares of the business services provider’s stock valued at $363,148,000 after buying an additional 42,075 shares during the last quarter. Boston Partners raised its holdings in shares of Omnicom Group by 11.0% in the first quarter. Boston Partners now owns 3,874,857 shares of the business services provider’s stock valued at $374,795,000 after buying an additional 383,560 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Omnicom Group by 37.0% in the second quarter. Bank of New York Mellon Corp now owns 3,307,882 shares of the business services provider’s stock valued at $296,717,000 after buying an additional 892,494 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Omnicom Group by 6.3% in the first quarter. Lazard Asset Management LLC now owns 2,787,675 shares of the business services provider’s stock valued at $269,734,000 after buying an additional 165,136 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Omnicom Group by 7.7% in the fourth quarter. First Trust Advisors LP now owns 2,598,915 shares of the business services provider’s stock valued at $224,832,000 after buying an additional 186,562 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now directly owns 10,356 shares in the company, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the transaction, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Omnicom Group Price Performance

Omnicom Group stock opened at $99.97 on Monday. The firm has a market capitalization of $19.58 billion, a P/E ratio of 13.51, a PEG ratio of 2.27 and a beta of 0.94. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $102.13. The business has a 50-day moving average of $95.43 and a 200-day moving average of $93.62. The company has a current ratio of 0.93, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31.

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. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.81 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.80%. Omnicom Group’s dividend payout ratio is presently 37.84%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Macquarie reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. UBS Group boosted their price objective on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Bank of America boosted their price objective on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.30.

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.