Omnicom Group Inc. $OMC Shares Acquired by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey grew its position in Omnicom Group Inc. (NYSE:OMC) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 29,943 shares of the business services provider’s stock after buying an additional 1,805 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Omnicom Group were worth $2,154,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OMC. Harbor Asset Planning Inc. purchased a new position in Omnicom Group in the 2nd quarter valued at $29,000. Zions Bancorporation National Association UT acquired a new stake in shares of Omnicom Group in the first quarter valued at about $34,000. Ameritas Advisory Services LLC purchased a new position in shares of Omnicom Group in the second quarter worth about $34,000. Gen Wealth Partners Inc acquired a new position in Omnicom Group during the first quarter worth about $36,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Omnicom Group during the 1st quarter valued at about $43,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Stock Down 2.2%

Shares of NYSE OMC opened at $71.90 on Thursday. The company has a market capitalization of $13.88 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The company has a 50 day simple moving average of $76.44 and a 200-day simple moving average of $75.03. Omnicom Group Inc. has a 1 year low of $68.37 and a 1 year high of $105.99.

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

Analysts Set New Price Targets

A number of research firms have commented on OMC. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Barclays increased their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.57.

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.