State of New Jersey Common Pension Fund D Decreases Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 37.9% in the second quarter, HoldingsChannel.com reports. The fund owned 69,365 shares of the business services provider’s stock after selling 42,336 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Omnicom Group were worth $6,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Frazier Financial Advisors LLC bought a new position in Omnicom Group during the fourth quarter valued at $26,000. Richardson Financial Services Inc. bought a new position in Omnicom Group during the fourth quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Omnicom Group during the second quarter valued at $33,000. Innealta Capital LLC bought a new position in Omnicom Group during the second quarter valued at $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Omnicom Group by 47.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 429 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 139 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at $941,153.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the sale, the director now owns 10,356 shares in the company, valued at approximately $941,153.28. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Omnicom Group Trading Up 1.4 %

Shares of OMC stock opened at $99.97 on Monday. 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 52-week low of $72.20 and a 52-week high of $102.13. The company has a market capitalization of $19.58 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The business’s fifty day moving average is $95.43 and its 200 day moving average is $93.62.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the business posted $1.81 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Omnicom Group Inc. will post 7.95 EPS for the current fiscal year.

Omnicom Group Announces Dividend

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 given 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 2.80%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Wall Street Analyst Weigh In

OMC has been the subject of several research reports. UBS Group increased their price objective on Omnicom Group from $117.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Bank of America raised their price target on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $110.00 price target on shares of Omnicom Group in a report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.30.

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.