Omnicom Group Inc. (NYSE:OMC) Shares Sold by New York State Teachers Retirement System

by · The Markets Daily

New York State Teachers Retirement System decreased its position in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 5.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,372 shares of the business services provider’s stock after selling 9,814 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Omnicom Group worth $17,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Trust Walden Corp grew its holdings in Omnicom Group by 8.2% in the second quarter. Boston Trust Walden Corp now owns 186,431 shares of the business services provider’s stock valued at $16,723,000 after purchasing an additional 14,153 shares during the last quarter. Norden Group LLC acquired a new stake in Omnicom Group in the 1st quarter valued at about $1,860,000. Central Pacific Bank Trust Division increased its holdings in Omnicom Group by 16.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,856 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 401 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Omnicom Group during the first quarter worth about $1,534,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Omnicom Group by 37.0% in the second quarter. SG Americas Securities LLC now owns 64,481 shares of the business services provider’s stock valued at $5,784,000 after purchasing an additional 17,414 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.1 %

Shares of NYSE:OMC opened at $101.08 on Friday. Omnicom Group Inc. has a 12-month low of $74.41 and a 12-month high of $106.51. The stock’s 50-day moving average price is $101.36 and its two-hundred day moving average price is $95.87. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The firm has a market cap of $19.72 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 2.30 and a beta of 0.94.

Omnicom Group (NYSE:OMC – Get Free Report) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period in the previous year, the firm earned $1.86 earnings per share. On average, research analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current year.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now owns 15,375 shares in the company, valued at approximately $1,524,738.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OMC. Macquarie lifted their price objective on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. Bank of America increased their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. UBS Group boosted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and a consensus price target of $110.11.

Read Our Latest Stock Analysis on Omnicom Group

Omnicom Group Company Profile

(Free Report)

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.

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