Retirement Systems of Alabama Trims Holdings in Omnicom Group Inc. (NYSE:OMC)

Retirement Systems of Alabama decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,699 shares of the business services provider’s stock after selling 501 shares during the period. Retirement Systems of Alabama’s holdings in Omnicom Group were worth $4,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. World Investment Advisors LLC raised its holdings in shares of Omnicom Group by 209.7% during the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock valued at $2,720,000 after acquiring an additional 17,815 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after purchasing an additional 401 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in Omnicom Group during the 3rd quarter valued at $713,000. Assetmark Inc. raised its holdings in Omnicom Group by 2.0% in the 3rd quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock worth $50,562,000 after purchasing an additional 9,774 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Omnicom Group by 40.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after purchasing an additional 8,643 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OMC shares. Bank of America boosted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. UBS Group raised their target price on Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Macquarie reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price objective 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Insiders Place Their Bets

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 transaction of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. This trade represents a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Omnicom Group Stock Up 0.2 %

OMC stock opened at $87.89 on Friday. The business has a 50 day moving average of $100.56 and a 200 day moving average of $97.12. The firm has a market cap of $17.15 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $84.43 and a twelve month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37.

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

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. Omnicom Group’s dividend payout ratio is currently 38.25%.

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.