California Public Employees Retirement System Reduces Position in Omnicom Group Inc. (NYSE:OMC)

California Public Employees Retirement System decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 2.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,116,882 shares of the business services provider’s stock after selling 22,624 shares during the quarter. California Public Employees Retirement System’s holdings in Omnicom Group were worth $106,271,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of OMC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Omnicom Group by 4.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,964 shares of the business services provider’s stock worth $2,374,000 after buying an additional 1,284 shares in the last quarter. Aviva PLC grew its holdings in shares of Omnicom Group by 27.0% during the first quarter. Aviva PLC now owns 81,054 shares of the business services provider’s stock worth $6,880,000 after buying an additional 17,251 shares in the last quarter. Prudential PLC purchased a new stake in shares of Omnicom Group in the first quarter valued at about $503,000. National Pension Service grew its holdings in shares of Omnicom Group by 644.1% in the first quarter. National Pension Service now owns 407,387 shares of the business services provider’s stock valued at $34,579,000 after purchasing an additional 352,639 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Omnicom Group in the first quarter valued at about $929,000. Hedge funds and other institutional investors own 92.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OMC. Bank of America dropped their price objective on shares of Omnicom Group to $73.00 in a report on Wednesday, September 20th. Macquarie dropped their price objective on shares of Omnicom Group from $96.00 to $82.00 in a report on Tuesday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $103.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, October 6th. Morgan Stanley dropped their price objective on shares of Omnicom Group from $100.00 to $90.00 and set an “equal weight” rating for the company in a report on Monday, October 16th. Finally, Citigroup decreased their target price on shares of Omnicom Group from $113.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and a consensus price target of $93.25.

Insider Activity at Omnicom Group

In related news, Director Linda Johnson Rice sold 467 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $80.24, for a total value of $37,472.08. Following the sale, the director now owns 9,591 shares of the company’s stock, valued at $769,581.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Linda Johnson Rice sold 467 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $80.24, for a total value of $37,472.08. Following the sale, the director now owns 9,591 shares of the company’s stock, valued at $769,581.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Andrew Castellaneta sold 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $76.57, for a total transaction of $252,681.00. Following the completion of the sale, the chief accounting officer now directly owns 30,014 shares in the company, valued at approximately $2,298,171.98. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Stock Down 0.1 %

Shares of OMC opened at $75.69 on Tuesday. The stock has a market capitalization of $14.98 billion, a PE ratio of 11.00, a P/E/G ratio of 2.11 and a beta of 0.93. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.23. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.84 and a current ratio of 0.97. The company’s 50-day simple moving average is $75.63 and its 200-day simple moving average is $84.16.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 17th. The business services provider reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.02. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Omnicom Group had a net margin of 9.62% and a return on equity of 40.01%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 earnings per share. Analysts forecast that Omnicom Group Inc. will post 7.39 earnings per share for the current fiscal year.

Omnicom Group Profile

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 brand consulting, experiential, execution and support, public relations, and healthcare.