State of New Jersey Common Pension Fund D Has $7.91 Million Stake in Omnicom Group Inc. $OMC

State of New Jersey Common Pension Fund D boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 55.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,982 shares of the business services provider’s stock after acquiring an additional 34,897 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Omnicom Group were worth $7,912,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Oakworth Capital Inc. lifted its position in Omnicom Group by 1,226.6% during the 4th quarter. Oakworth Capital Inc. now owns 1,048 shares of the business services provider’s stock worth $85,000 after acquiring an additional 969 shares during the last quarter. Wealthfront Advisers LLC lifted its position in Omnicom Group by 40.0% during the 4th quarter. Wealthfront Advisers LLC now owns 33,328 shares of the business services provider’s stock worth $2,691,000 after acquiring an additional 9,518 shares during the last quarter. R Squared Ltd acquired a new position in shares of Omnicom Group during the fourth quarter valued at about $339,000. Exencial Wealth Advisors LLC acquired a new position in shares of Omnicom Group during the fourth quarter valued at about $233,000. Finally, Comerica Bank raised its position in shares of Omnicom Group by 34.3% during the fourth quarter. Comerica Bank now owns 89,997 shares of the business services provider’s stock valued at $7,267,000 after buying an additional 22,977 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analyst Ratings Changes

OMC has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research report on Thursday, January 22nd. Morgan Stanley upped their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a research report on Friday. Citigroup cut their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday. Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Finally, Bank of America reaffirmed an “underperform” rating and set a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group currently has a consensus rating of “Hold” and an average price target of $93.71.

Omnicom Group Stock Performance

NYSE OMC opened at $77.02 on Friday. The stock has a market cap of $21.95 billion, a P/E ratio of 197.49, a PEG ratio of 0.59 and a beta of 0.66. The company’s 50-day simple moving average is $78.37 and its 200 day simple moving average is $76.81. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last posted its earnings results on Tuesday, April 28th. The business services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $5.85 billion. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.70 earnings per share. As a group, research analysts forecast that Omnicom Group Inc. will post 10.77 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Wednesday, March 11th were paid a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. Omnicom Group’s payout ratio is presently 820.51%.

Omnicom Group announced that its board has authorized a share buyback plan on Wednesday, February 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group Profile

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.