Kentucky Retirement Systems Sells 279 Shares of Omnicom Group Inc. (NYSE:OMC)

Kentucky Retirement Systems decreased its position in Omnicom Group Inc. (NYSE:OMC) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,757 shares of the business services provider’s stock after selling 279 shares during the period. Kentucky Retirement Systems’ holdings in Omnicom Group were worth $1,324,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OMC. Norges Bank bought a new position in Omnicom Group in the fourth quarter valued at about $21,424,000. UBS Group AG boosted its holdings in Omnicom Group by 98.3% in the fourth quarter. UBS Group AG now owns 377,748 shares of the business services provider’s stock valued at $32,679,000 after acquiring an additional 187,260 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in Omnicom Group in the fourth quarter valued at about $220,000. Clearbridge Investments LLC bought a new position in Omnicom Group during the fourth quarter worth about $502,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Omnicom Group by 47.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock worth $37,000 after buying an additional 139 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Macquarie restated an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a report on Wednesday, July 17th. Bank of America raised their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, UBS Group raised their target price on Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One research 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.com, Omnicom Group presently has a consensus rating of “Moderate Buy” and an average target price of $106.30.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 sale, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Linda Johnson Rice sold 488 shares of Omnicom Group 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 sale, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group 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 sale, the vice president now directly owns 15,375 shares in the company, valued at approximately $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Omnicom Group Trading Down 0.9 %

NYSE OMC opened at $102.30 on Friday. The firm has a market cap of $20.03 billion, a P/E ratio of 13.82, a P/E/G ratio of 2.27 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. The stock’s 50-day moving average is $96.52 and its 200-day moving average is $94.06. Omnicom Group Inc. has a one year low of $72.20 and a one year high of $104.80.

Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Tuesday, July 16th. The business services provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $3.85 billion for 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%. Omnicom Group’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Sell-side analysts anticipate that Omnicom Group Inc. will post 7.95 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced 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. This represents a $2.80 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, September 20th. Omnicom Group’s dividend payout ratio is presently 37.84%.

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.