Texas Permanent School Fund Corp Sells 8,800 Shares of Omnicom Group Inc. $OMC

Texas Permanent School Fund Corp reduced its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 40.2% in the second quarter, HoldingsChannel.com reports. The fund owned 13,099 shares of the business services provider’s stock after selling 8,800 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Omnicom Group were worth $942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in shares of Omnicom Group by 3.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 84,329 shares of the business services provider’s stock valued at $6,067,000 after acquiring an additional 2,855 shares in the last quarter. Defender Capital LLC. acquired a new stake in Omnicom Group in the second quarter worth $360,000. Vanguard Group Inc. increased its stake in Omnicom Group by 1.5% in the second quarter. Vanguard Group Inc. now owns 23,811,406 shares of the business services provider’s stock valued at $1,712,993,000 after purchasing an additional 344,652 shares in the last quarter. J2 Capital Management Inc acquired a new position in shares of Omnicom Group during the second quarter valued at about $383,000. Finally, Invesco Ltd. boosted its position in shares of Omnicom Group by 6.7% during the 2nd quarter. Invesco Ltd. now owns 2,629,233 shares of the business services provider’s stock worth $189,147,000 after purchasing an additional 165,946 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE OMC opened at $79.95 on Thursday. The company has a market capitalization of $15.43 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 1.25 and a beta of 0.75. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $89.35. The company has a 50-day simple moving average of $75.61 and a 200 day simple moving average of $75.27.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company earned $2.03 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, research analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.0%. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 19th. Omnicom Group’s dividend payout ratio is currently 47.27%.

Analyst Ratings Changes

OMC has been the subject of a number of research analyst reports. UBS Group boosted their target price on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Barclays upped their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 23rd. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $78.00 to $91.00 in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley began coverage on shares of Omnicom Group in a report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $92.57.

About Omnicom Group

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.