Omnicom Group Inc. (NYSE:OMC) Shares Purchased by California State Teachers Retirement System

California State Teachers Retirement System boosted its stake in Omnicom Group Inc. (NYSE:OMC) by 1.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 319,035 shares of the business services provider’s stock after acquiring an additional 4,036 shares during the period. California State Teachers Retirement System’s holdings in Omnicom Group were worth $30,870,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Norden Group LLC purchased a new stake in shares of Omnicom Group in the first quarter valued at $1,860,000. Arvest Investments Inc. acquired a new position in Omnicom Group in the 4th quarter valued at about $1,969,000. Sequoia Financial Advisors LLC lifted its holdings in Omnicom Group by 1,627.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 66,488 shares of the business services provider’s stock valued at $5,752,000 after purchasing an additional 62,640 shares in the last quarter. Kodai Capital Management LP acquired a new stake in shares of Omnicom Group during the 4th quarter worth about $27,419,000. Finally, Truist Financial Corp raised its position in shares of Omnicom Group by 4.8% in the fourth quarter. Truist Financial Corp now owns 463,497 shares of the business services provider’s stock valued at $40,097,000 after buying an additional 21,018 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the subject of several recent analyst reports. StockNews.com raised shares of Omnicom Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Moffett Nathanson upped their target price on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Barclays raised Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $110.00 in a research note on Tuesday, May 7th. Macquarie reaffirmed an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Omnicom Group currently has an average rating of “Moderate Buy” and an average price target of $104.70.

Insider Activity at Omnicom Group

In other news, Director Linda Johnson Rice sold 453 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total transaction of $41,984.04. Following the transaction, the director now directly owns 9,830 shares of the company’s stock, valued at $911,044.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Omnicom Group Trading Up 0.1 %

NYSE OMC traded up $0.14 during mid-day trading on Wednesday, hitting $98.06. The company’s stock had a trading volume of 1,393,614 shares, compared to its average volume of 1,624,525. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $98.71. The stock’s fifty day simple moving average is $91.48 and its two-hundred day simple moving average is $91.72. The firm has a market capitalization of $19.19 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.86%. Omnicom Group’s dividend payout ratio (DPR) is currently 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.