Strs Ohio Sells 3,983 Shares of Omnicom Group Inc. (NYSE:OMC)

Strs Ohio trimmed its position in shares of Omnicom Group Inc. (NYSE:OMC – Get Rating) by 17.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,422 shares of the business services provider’s stock after selling 3,983 shares during the period. Strs Ohio’s holdings in Omnicom Group were worth $1,162,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its holdings in Omnicom Group by 1.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 30,971 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 534 shares during the last quarter. Ballentine Partners LLC grew its holdings in Omnicom Group by 15.1% during the 3rd quarter. Ballentine Partners LLC now owns 11,114 shares of the business services provider’s stock valued at $702,000 after purchasing an additional 1,454 shares during the last quarter. WBI Investments Inc. grew its holdings in Omnicom Group by 37.0% during the 3rd quarter. WBI Investments Inc. now owns 16,993 shares of the business services provider’s stock valued at $1,072,000 after purchasing an additional 4,588 shares during the last quarter. Truist Financial Corp grew its holdings in Omnicom Group by 10.7% during the 3rd quarter. Truist Financial Corp now owns 354,495 shares of the business services provider’s stock valued at $22,365,000 after purchasing an additional 34,215 shares during the last quarter. Finally, Balentine LLC grew its holdings in Omnicom Group by 9.3% during the 3rd quarter. Balentine LLC now owns 7,653 shares of the business services provider’s stock valued at $483,000 after purchasing an additional 651 shares during the last quarter. 90.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,300 shares of the stock in a transaction on Monday, October 24th. The shares were sold at an average price of $70.79, for a total value of $92,027.00. Following the sale, the director now owns 10,048 shares in the company, valued at $711,297.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Omnicom Group from $67.00 to $75.00 and gave the company an “underweight” rating in a research report on Monday, December 19th. Barclays boosted their price objective on shares of Omnicom Group to $80.00 in a research report on Thursday, October 27th. Finally, StockNews.com assumed coverage on shares of Omnicom Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and a consensus target price of $85.40.

Omnicom Group Price Performance

Shares of OMC opened at $84.06 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.84 and a current ratio of 0.95. The stock has a market capitalization of $17.14 billion, a PE ratio of 13.49, a PEG ratio of 4.80 and a beta of 0.84. The company has a 50 day moving average price of $79.21 and a 200-day moving average price of $71.81. Omnicom Group Inc. has a fifty-two week low of $61.31 and a fifty-two week high of $91.61.

Omnicom Group (NYSE:OMC – Get Rating) last posted its quarterly earnings data on Tuesday, October 18th. The business services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.64 by $0.13. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.34 billion. Omnicom Group had a net margin of 9.13% and a return on equity of 40.82%. Omnicom Group’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. Equities analysts predict that Omnicom Group Inc. will post 6.51 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 11th. Shareholders of record on Wednesday, December 21st were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, December 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.33%. Omnicom Group’s payout ratio is 44.94%.

About Omnicom Group

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