New Mexico Educational Retirement Board trimmed its position in Omnicom Group Inc. (NYSE:OMC) by 2.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,734 shares of the business services provider’s stock after selling 400 shares during the period. New Mexico Educational Retirement Board’s holdings in Omnicom Group were worth $1,367,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc grew its position in Omnicom Group by 24.9% in the 3rd quarter. Vanguard Group Inc now owns 21,216,134 shares of the business services provider’s stock worth $1,443,122,000 after purchasing an additional 4,228,195 shares in the last quarter. BlackRock Inc. boosted its stake in Omnicom Group by 5.3% in the fourth quarter. BlackRock Inc. now owns 15,884,989 shares of the business services provider’s stock valued at $1,163,417,000 after acquiring an additional 796,300 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Omnicom Group by 1,412,816.5% in the third quarter. Bank of New York Mellon Corp now owns 9,862,157 shares of the business services provider’s stock valued at $670,825,000 after acquiring an additional 9,861,459 shares during the last quarter. American International Group Inc. boosted its stake in Omnicom Group by 1,169.5% in the fourth quarter. American International Group Inc. now owns 5,683,553 shares of the business services provider’s stock valued at $416,263,000 after acquiring an additional 5,235,862 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Omnicom Group by 6,842.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,974,955 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 3,917,700 shares during the last quarter.
In related news, Director Leonard S. Coleman, Jr. sold 2,556 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $75.25, for a total transaction of $192,339.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Linda Johnson Rice sold 495 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $74.79, for a total transaction of $37,021.05. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, April 16th. The business services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.09. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Omnicom Group had a net margin of 8.76% and a return on equity of 44.01%. Omnicom Group’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. As a group, research analysts forecast that Omnicom Group Inc. will post 5.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Monday, March 11th were paid a dividend of $0.65 per share. This is a boost from Omnicom Group’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Friday, March 8th. Omnicom Group’s dividend payout ratio is presently 45.22%.
A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Omnicom Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays upgraded shares of Omnicom Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $76.00 to $84.00 in a research note on Wednesday. Citigroup boosted their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, February 14th. Macquarie set a $76.00 target price on shares of Omnicom Group and gave the company a “hold” rating in a research note on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Omnicom Group presently has an average rating of “Hold” and an average target price of $76.90.
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Omnicom Group Profile
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.
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