Retirement Systems of Alabama reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 111,951 shares of the business services provider’s stock after selling 896 shares during the period. Retirement Systems of Alabama’s holdings in Omnicom Group were worth $8,292,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in Omnicom Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 15,946,330 shares of the business services provider’s stock worth $1,321,951,000 after purchasing an additional 79,678 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Omnicom Group by 2.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,429,677 shares of the business services provider’s stock worth $1,113,320,000 after acquiring an additional 341,406 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Omnicom Group by 6.1% in the 3rd quarter. Pzena Investment Management LLC now owns 6,343,295 shares of the business services provider’s stock worth $469,848,000 after acquiring an additional 364,309 shares during the period. Longview Partners Guernsey LTD lifted its stake in shares of Omnicom Group by 41.3% in the 3rd quarter. Longview Partners Guernsey LTD now owns 5,653,698 shares of the business services provider’s stock worth $418,769,000 after acquiring an additional 1,653,208 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Omnicom Group by 15,279.3% in the 2nd quarter. Janus Henderson Group PLC now owns 4,996,274 shares of the business services provider’s stock worth $414,191,000 after acquiring an additional 4,963,787 shares during the period. 98.60% of the stock is currently owned by institutional investors.
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Several research firms have recently commented on OMC. Zacks Investment Research cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada set a $96.00 price objective on shares of Omnicom Group and gave the company a “buy” rating in a research note on Saturday, July 22nd. BidaskClub cut shares of Omnicom Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. BMO Capital Markets reiterated a “hold” rating and issued a $85.00 price objective on shares of Omnicom Group in a research note on Wednesday, September 13th. Finally, Citigroup Inc. upgraded shares of Omnicom Group from a “sell” rating to a “neutral” rating in a research note on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Omnicom Group currently has an average rating of “Hold” and a consensus target price of $84.00.
In other Omnicom Group news, Director Linda Johnson Rice sold 489 shares of the firm’s stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $74.32, for a total transaction of $36,342.48. Following the completion of the transaction, the director now directly owns 7,777 shares in the company, valued at approximately $577,986.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at $69.44 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.79 and a debt-to-equity ratio of 1.62. Omnicom Group Inc. has a twelve month low of $65.32 and a twelve month high of $89.66. The firm has a market cap of $16,008.21, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.87 and a beta of 1.22.
Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.03. Omnicom Group had a net margin of 7.72% and a return on equity of 42.11%. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. equities research analysts anticipate that Omnicom Group Inc. will post 5.11 earnings per share for the current fiscal year.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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