Retirement Systems of Alabama cut its stake in Omnicom Group Inc. (NYSE:OMC) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 121,207 shares of the company’s stock after selling 587 shares during the period. Retirement Systems of Alabama’s holdings in Omnicom Group were worth $9,877,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in Omnicom Group during the first quarter worth $110,000. Trust Department MB Financial Bank N A raised its position in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock valued at $123,000 after buying an additional 100 shares during the last quarter. City Holding Co. raised its position in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock valued at $158,000 after buying an additional 922 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Omnicom Group during the first quarter valued at approximately $166,000. Finally, RMB Capital Management LLC acquired a new position in shares of Omnicom Group during the first quarter valued at approximately $200,000. 97.04% of the stock is owned by institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.13% during mid-day trading on Thursday, reaching $83.06. The company’s stock had a trading volume of 1,512,096 shares. The company has a 50-day moving average price of $84.75 and a 200 day moving average price of $83.39. Omnicom Group Inc. has a 52-week low of $66.48 and a 52-week high of $87.50. The company has a market cap of $19.65 billion, a PE ratio of 18.17 and a beta of 1.35.
Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Thursday, July 14th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.33 by $0.03. Omnicom Group had a return on equity of 38.56% and a net margin of 7.26%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Omnicom Group Inc. will post $4.75 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Thursday, September 22nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Tuesday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 48.04%.
Several research analysts have recently commented on OMC shares. Zacks Investment Research raised Omnicom Group from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Telsey Advisory Group boosted their price objective on Omnicom Group from $79.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, July 20th. Credit Suisse Group AG started coverage on Omnicom Group in a report on Thursday, September 15th. They set a “neutral” rating and a $83.00 price objective for the company. Albert Fried & Company reissued a “hold” rating and set a $85.00 price objective on shares of Omnicom Group in a report on Thursday, July 14th. Finally, RBC Capital Markets started coverage on Omnicom Group in a report on Thursday. They set a “sector perform” rating for the company. Eleven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.92.
In related news, Director Linda Johnson Rice sold 824 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $84.55, for a total transaction of $69,669.20. Following the completion of the sale, the director now owns 30,440 shares in the company, valued at $2,573,702. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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