Kentucky Retirement Systems Insurance Trust Fund Has $599,000 Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,793 shares of the business services provider’s stock after selling 523 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Omnicom Group were worth $599,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Omnicom Group in the second quarter valued at approximately $33,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group in the 2nd quarter valued at $33,000. Northwest Investment Counselors LLC acquired a new position in shares of Omnicom Group during the 3rd quarter valued at $33,000. Davis Capital Management bought a new position in Omnicom Group during the third quarter worth $36,000. Finally, HM Payson & Co. grew its holdings in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.5 %

Omnicom Group stock opened at $98.33 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $19.19 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.18 and a beta of 0.95. The firm has a 50 day moving average price of $102.15 and a 200-day moving average price of $96.60. Omnicom Group Inc. has a twelve month low of $78.28 and a twelve month high of $107.00.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period in the prior year, the company earned $1.86 earnings per share. As a group, equities analysts predict that Omnicom Group Inc. will post 7.94 EPS for the current year.

Insider Transactions at Omnicom Group

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total transaction of $297,510.00. Following the sale, the vice president now owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The trade was a 16.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 14.52 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

OMC has been the topic of several research reports. Wells Fargo & Company lowered shares of 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 report on Wednesday, October 16th. UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays upped their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Bank of America boosted their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.11.

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.