Kentucky Retirement Systems Insurance Trust Fund Has $467,000 Stake in Omnicom Group Inc. (NYSE:OMC)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of Omnicom Group Inc. (NYSE:OMC) by 38.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,629 shares of the business services provider’s stock after selling 3,485 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Omnicom Group were worth $467,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Omnicom Group by 50.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,973,061 shares of the business services provider’s stock valued at $513,922,000 after buying an additional 1,992,695 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Omnicom Group during the 4th quarter worth about $150,819,000. FMR LLC grew its stake in Omnicom Group by 250.1% during the 4th quarter. FMR LLC now owns 2,010,547 shares of the business services provider’s stock valued at $172,987,000 after acquiring an additional 1,436,231 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Omnicom Group by 91.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,147,019 shares of the business services provider’s stock valued at $184,730,000 after purchasing an additional 1,027,567 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Omnicom Group in the fourth quarter worth approximately $79,321,000. 91.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OMC has been the topic of a number of research analyst reports. Barclays downgraded shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $105.00 to $80.00 in a research report on Wednesday. Wells Fargo & Company lowered their price target on shares of Omnicom Group from $99.00 to $84.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group reduced their price objective on Omnicom Group from $117.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, March 20th. Finally, Bank of America raised Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.43.

Omnicom Group Stock Down 2.4%

OMC stock opened at $70.71 on Thursday. The firm has a market cap of $13.80 billion, a PE ratio of 9.67, a PEG ratio of 1.60 and a beta of 0.93. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $107.00. The company has a fifty day simple moving average of $73.62 and a 200 day simple moving average of $79.88. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, April 15th. The business services provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.07. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Omnicom Group had a return on equity of 34.85% and a net margin of 9.20%. Sell-side analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.80 annualized dividend and a yield of 3.96%. Omnicom Group’s dividend payout ratio (DPR) is currently 38.30%.

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 branding, experiential, execution and support, public relations, and healthcare.