State of Michigan Retirement System Has $4.72 Million Position in Omnicom Group Inc. (NYSE:OMC)

State of Michigan Retirement System trimmed its stake in Omnicom Group Inc. (NYSE:OMC) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 54,884 shares of the business services provider’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Omnicom Group were worth $4,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ST Germain D J Co. Inc. bought a new position in shares of Omnicom Group during the 4th quarter worth about $25,000. Versant Capital Management Inc raised its stake in Omnicom Group by 645.2% during the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after buying an additional 271 shares during the period. Venturi Wealth Management LLC boosted its holdings in Omnicom Group by 146.6% in the fourth quarter. Venturi Wealth Management LLC now owns 328 shares of the business services provider’s stock worth $28,000 after acquiring an additional 195 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Omnicom Group in the third quarter valued at approximately $55,000. Finally, Trust Co. of Vermont grew its stake in Omnicom Group by 742.4% in the fourth quarter. Trust Co. of Vermont now owns 556 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 490 shares during the period. 91.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OMC shares. Wells Fargo & Company cut their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Argus cut shares of Omnicom Group from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. Finally, Barclays cut their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.25.

Omnicom Group Trading Up 0.4 %

Shares of OMC stock opened at $82.54 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.00. The company has a market capitalization of $16.22 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.94 and a beta of 0.98. Omnicom Group Inc. has a 52-week low of $79.57 and a 52-week high of $107.00. The company has a 50-day simple moving average of $84.45 and a two-hundred day simple moving average of $94.45.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.03. Omnicom Group had a return on equity of 36.39% and a net margin of 9.44%. During the same period last year, the firm earned $2.20 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, March 11th. Omnicom Group’s dividend payout ratio is presently 37.58%.

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.