State of Michigan Retirement System Purchases 1,900 Shares of Omnicom Group Inc. $OMC

State of Michigan Retirement System grew its position in shares of Omnicom Group Inc. (NYSE:OMC) by 3.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 57,184 shares of the business services provider’s stock after buying an additional 1,900 shares during the period. State of Michigan Retirement System’s holdings in Omnicom Group were worth $4,114,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Omnicom Group by 1.8% during the first quarter. Vanguard Group Inc. now owns 23,466,754 shares of the business services provider’s stock valued at $1,945,629,000 after acquiring an additional 424,936 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Omnicom Group by 20.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,178,226 shares of the business services provider’s stock valued at $595,147,000 after acquiring an additional 1,205,165 shares in the last quarter. Boston Partners increased its holdings in shares of Omnicom Group by 18.5% during the first quarter. Boston Partners now owns 4,882,041 shares of the business services provider’s stock valued at $402,598,000 after acquiring an additional 762,871 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Omnicom Group by 44.5% during the first quarter. Baird Financial Group Inc. now owns 3,896,270 shares of the business services provider’s stock valued at $323,040,000 after acquiring an additional 1,199,725 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Omnicom Group by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,259,431 shares of the business services provider’s stock worth $270,235,000 after buying an additional 49,801 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 0.8%

OMC stock opened at $73.61 on Wednesday. The stock’s fifty day simple moving average is $77.49 and its two-hundred day simple moving average is $75.17. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Omnicom Group Inc. has a 1-year low of $68.37 and a 1-year high of $107.00. The stock has a market cap of $14.21 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.43 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, October 21st. The business services provider reported $2.24 earnings per share 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 business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the firm earned $2.03 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Analyst Ratings Changes

OMC has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday, October 8th. Barclays upped their price target on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.