Kentucky Retirement Systems Insurance Trust Fund Purchases 3,321 Shares of Omnicom Group Inc. (NYSE:OMC)

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 57.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,114 shares of the business services provider’s stock after acquiring an additional 3,321 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Omnicom Group were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Omnicom Group by 5.7% in the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock valued at $1,468,615,000 after purchasing an additional 759,980 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $525,960,000 after purchasing an additional 72,447 shares during the last quarter. Barclays PLC lifted its stake in shares of Omnicom Group by 1.7% in the 3rd quarter. Barclays PLC now owns 819,613 shares of the business services provider’s stock valued at $84,741,000 after purchasing an additional 13,637 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Omnicom Group by 23.6% in the 3rd quarter. Bank of Montreal Can now owns 705,806 shares of the business services provider’s stock valued at $72,465,000 after purchasing an additional 134,927 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Omnicom Group by 16.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 695,216 shares of the business services provider’s stock valued at $71,878,000 after purchasing an additional 97,661 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Omnicom Group Trading Up 1.4 %

Shares of NYSE:OMC opened at $83.34 on Wednesday. Omnicom Group Inc. has a 12-month low of $80.31 and a 12-month high of $107.00. The business’s fifty day simple moving average is $86.08 and its 200-day simple moving average is $95.44. The company has a market capitalization of $16.38 billion, a PE ratio of 11.19, a P/E/G ratio of 1.94 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period in the prior year, the firm posted $2.20 EPS. As a group, equities research analysts predict that Omnicom Group Inc. will post 8.32 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be issued a $0.70 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.36%. Omnicom Group’s dividend payout ratio is presently 37.58%.

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.