Pictet Asset Management Holding SA Has $13.03 Million Stock Holdings in Omnicom Group Inc. $OMC

Pictet Asset Management Holding SA reduced its stake in Omnicom Group Inc. (NYSE:OMC) by 38.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 173,023 shares of the business services provider’s stock after selling 109,645 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Omnicom Group worth $13,030,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its holdings in Omnicom Group by 82.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider’s stock valued at $138,000 after acquiring an additional 869 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Omnicom Group during the second quarter worth approximately $241,000. Gabelli Funds LLC acquired a new position in shares of Omnicom Group in the second quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. grew its position in shares of Omnicom Group by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider’s stock valued at $2,113,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Omnicom Group by 14.1% in the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after purchasing an additional 44,746 shares during the last quarter. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OMC. Argus raised Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Citigroup lowered their price objective on Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. UBS Group boosted their target price on shares of Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 price target on the stock. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $99.00.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $78.55 on Friday. The business has a fifty day moving average price of $74.86 and a two-hundred day moving average price of $76.74. The stock has a market capitalization of $22.39 billion, a PE ratio of 201.41, a P/E/G ratio of 0.46 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17.

Omnicom Group (NYSE:OMC) last released its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $1.70 EPS. Omnicom Group’s quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio is presently 820.51%.

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.