State Board of Administration of Florida Retirement System Decreases Holdings in Omnicom Group Inc. (OMC)

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State Board of Administration of Florida Retirement System reduced its position in Omnicom Group Inc. (NYSE:OMC) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,408 shares of the business services provider’s stock after selling 11,449 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of Omnicom Group worth $20,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cynosure Advisors LLC grew its holdings in shares of Omnicom Group by 14.6% during the second quarter. Cynosure Advisors LLC now owns 22,440 shares of the business services provider’s stock worth $1,711,000 after buying an additional 2,860 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Omnicom Group by 57.3% during the second quarter. Brown Advisory Inc. now owns 252,622 shares of the business services provider’s stock worth $19,268,000 after buying an additional 92,037 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of Omnicom Group by 179.3% during the third quarter. CENTRAL TRUST Co now owns 7,221 shares of the business services provider’s stock worth $491,000 after buying an additional 4,636 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Omnicom Group by 78.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,773 shares of the business services provider’s stock worth $211,000 after buying an additional 1,220 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Omnicom Group by 0.7% during the second quarter. BlackRock Inc. now owns 14,936,191 shares of the business services provider’s stock worth $1,139,184,000 after buying an additional 109,292 shares in the last quarter.

A number of research firms have recently issued reports on OMC. ValuEngine raised shares of Omnicom Group from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. Barclays set a $76.00 target price on shares of Omnicom Group and gave the stock a “sell” rating in a report on Wednesday, October 17th. Citigroup upped their target price on shares of Omnicom Group from $80.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 24th. Pivotal Research upped their target price on shares of Omnicom Group from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Tuesday, October 16th. Finally, Royal Bank of Canada dropped their target price on shares of Omnicom Group to $75.00 and set a “$70.60” rating for the company in a report on Wednesday, July 18th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.40.

In other Omnicom Group news, CEO Jonathan B. Nelson sold 13,000 shares of the stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $77.38, for a total value of $1,005,940.00. Following the transaction, the chief executive officer now directly owns 58,569 shares in the company, valued at $4,532,069.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Treasurer Dennis E. Hewitt sold 500 shares of the stock in a transaction that occurred on Wednesday, October 24th. The shares were sold at an average price of $75.85, for a total transaction of $37,925.00. Following the completion of the transaction, the treasurer now owns 45,610 shares in the company, valued at $3,459,518.50. The disclosure for this sale can be found here. Insiders have sold 14,233 shares of company stock worth $1,098,528 over the last 90 days. Insiders own 1.20% of the company’s stock.

OMC stock opened at $76.04 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.77 and a current ratio of 0.87. Omnicom Group Inc. has a fifty-two week low of $65.32 and a fifty-two week high of $83.34. The company has a market cap of $16.96 billion, a P/E ratio of 13.69, a PEG ratio of 2.07 and a beta of 0.77.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 16th. The business services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.03. Omnicom Group had a net margin of 7.68% and a return on equity of 41.70%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Analysts anticipate that Omnicom Group Inc. will post 5.63 EPS for the current year.

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About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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