California State Teachers Retirement System Increases Stake in Omnicom Group Inc. $OMC

California State Teachers Retirement System increased its position in Omnicom Group Inc. (NYSE:OMCFree Report) by 6,250.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,804,190 shares of the business services provider’s stock after buying an additional 33,271,882 shares during the quarter. California State Teachers Retirement System owned 0.12% of Omnicom Group worth $2,461,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. increased its stake in shares of Omnicom Group by 55.4% in the 4th quarter. Resona Asset Management Co. Ltd. now owns 98,842 shares of the business services provider’s stock worth $7,976,000 after acquiring an additional 35,247 shares in the last quarter. Orca Investment Management LLC bought a new stake in Omnicom Group during the second quarter worth about $2,023,000. Gamco Investors INC. ET AL grew its holdings in Omnicom Group by 6,819.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 214,222 shares of the business services provider’s stock worth $17,298,000 after purchasing an additional 211,126 shares during the period. Abacus Wealth Partners LLC purchased a new stake in Omnicom Group in the fourth quarter worth about $1,752,000. Finally, DNB Asset Management AS increased its stake in shares of Omnicom Group by 479.7% during the fourth quarter. DNB Asset Management AS now owns 213,772 shares of the business services provider’s stock valued at $17,262,000 after purchasing an additional 176,894 shares in the last quarter. 91.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares of the company’s stock, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research downgraded Omnicom Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. Citigroup lowered their price objective on Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Rothschild & Co Redburn began coverage on Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. The Goldman Sachs Group started coverage on Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $99.00.

View Our Latest Report on Omnicom Group

Omnicom Group Trading Up 1.4%

Shares of OMC stock opened at $79.38 on Friday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $89.57. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The firm’s 50 day moving average is $83.23 and its 200 day moving average is $78.90. The stock has a market capitalization of $21.78 billion, a P/E ratio of 68.43, a P/E/G ratio of 0.67 and a beta of 0.65.

Omnicom Group (NYSE:OMCGet Free Report) last announced its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.67 by ($0.02). The firm had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.The company’s revenue for the quarter was up 63.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 earnings per share. Research analysts expect that Omnicom Group Inc. will post 10.35 earnings per share for the current year.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Friday, September 18th. Omnicom Group’s dividend payout ratio is presently 275.86%.

About Omnicom Group

(Free Report)

Omnicom Group Inc (NYSE: OMC) is a global marketing and communications holding company. Through a network of agencies and specialized businesses, it provides advertising, branding, media planning and buying, public relations, customer relationship management, digital marketing, experiential marketing and healthcare communications services.

Omnicom’s agency brands have included BBDO Worldwide, DDB Worldwide, TBWA\Worldwide, Omnicom Media Group, FleishmanHillard and Ketchum. These businesses serve clients across industries, including consumer products, healthcare, technology, financial services, automotive and telecommunications, helping organizations develop brand strategies, create campaigns and engage audiences through traditional and digital channels.

Omnicom was formed in 1986 through the merger of advertising companies BBDO, Doyle Dane Bernbach and Needham Harper Worldwide.

See Also

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

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