Kentucky Retirement Systems Decreases Holdings in Omnicom Group Inc. (NYSE:OMC)

Kentucky Retirement Systems trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 5.1% in the first quarter, Holdings Channel reports. The firm owned 15,036 shares of the business services provider’s stock after selling 801 shares during the period. Kentucky Retirement Systems’ holdings in Omnicom Group were worth $1,455,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in OMC. HHM Wealth Advisors LLC purchased a new stake in Omnicom Group during the 4th quarter worth $26,000. Frazier Financial Advisors LLC purchased a new stake in Omnicom Group during the 4th quarter worth $26,000. Pinnacle Bancorp Inc. boosted its position in Omnicom Group by 61.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 328 shares of the business services provider’s stock worth $28,000 after purchasing an additional 125 shares during the period. Richardson Financial Services Inc. purchased a new stake in Omnicom Group during the 4th quarter worth $29,000. Finally, First United Bank & Trust purchased a new position in Omnicom Group in the 4th quarter valued at about $35,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on OMC shares. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $91.00 to $106.00 in a research report on Wednesday, April 17th. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Barclays raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $100.00 to $110.00 in a research report on Tuesday, May 7th. Macquarie reissued an “outperform” rating and issued a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. Finally, UBS Group upped their price objective on shares of Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.70.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total transaction of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Omnicom Group Stock Up 2.2 %

Shares of Omnicom Group stock traded up $2.08 during trading on Friday, reaching $95.43. The company had a trading volume of 2,018,439 shares, compared to its average volume of 1,741,401. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95. The firm’s fifty day moving average is $91.38 and its 200-day moving average is $91.54. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93. Omnicom Group Inc. has a fifty-two week low of $72.20 and a fifty-two week high of $98.06.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 EPS. On average, analysts anticipate that Omnicom Group Inc. will post 7.92 EPS for the current year.

Omnicom Group Dividend Announcement

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 paid a dividend of $0.70 per share. The ex-dividend date is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.93%. Omnicom Group’s dividend payout ratio (DPR) is 37.84%.

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.