California Public Employees Retirement System Sells 113,204 Shares of Omnicom Group Inc. $OMC

California Public Employees Retirement System decreased its stake in Omnicom Group Inc. (NYSE:OMC) by 13.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 703,319 shares of the business services provider’s stock after selling 113,204 shares during the quarter. California Public Employees Retirement System’s holdings in Omnicom Group were worth $52,967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Activest Wealth Management grew its position in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after acquiring an additional 296 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in Omnicom Group during the fourth quarter valued at about $26,000. Elyxium Wealth LLC purchased a new stake in Omnicom Group during the fourth quarter valued at about $26,000. Legacy Wealth Managment LLC ID lifted its stake in Omnicom Group by 111.4% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Finally, EFG International AG bought a new stake in Omnicom Group during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $82.40 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The firm has a market cap of $23.48 billion, a P/E ratio of 211.28, a P/E/G ratio of 0.49 and a beta of 0.63. The business’s 50 day moving average price is $75.93 and its 200-day moving average price is $76.80.

Omnicom Group (NYSE:OMC) last announced its earnings results on Wednesday, April 29th. The business services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the company earned $1.70 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 18th. Omnicom Group’s payout ratio is presently 820.51%.

Analyst Ratings Changes

OMC has been the subject of a number of research reports. Morgan Stanley upped their price objective on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price for the company. Argus raised Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Omnicom Group in a research report on Friday, May 22nd. Finally, Citigroup decreased their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.