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

Pictet Asset Management Holding SA cut its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 38.8% in the 1st quarter, Holdings Channel reports. The firm owned 173,023 shares of the business services provider’s stock after selling 109,645 shares during the period. Pictet Asset Management Holding SA’s holdings in Omnicom Group were worth $13,030,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of OMC. Leonard Rickey Investment Advisors P.L.L.C. lifted its position in shares of Omnicom Group by 4.1% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider’s stock worth $305,000 after buying an additional 147 shares during the last quarter. Wakefield Asset Management LLLP grew its position in Omnicom Group by 2.6% in the fourth quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider’s stock valued at $477,000 after acquiring an additional 149 shares during the last quarter. Hartford Financial Management Inc. grew its position in Omnicom Group by 27.0% in the fourth quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider’s stock valued at $62,000 after acquiring an additional 162 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC raised its stake in Omnicom Group by 3.5% during the fourth quarter. Blake Schutter Theil Wealth Advisors LLC now owns 4,897 shares of the business services provider’s stock worth $395,000 after acquiring an additional 167 shares in the last quarter. Finally, Binnacle Investments Inc raised its stake in Omnicom Group by 17.7% during the second quarter. Binnacle Investments Inc now owns 1,124 shares of the business services provider’s stock worth $81,000 after acquiring an additional 169 shares in 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 reports. Rothschild & Co Redburn assumed coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. UBS Group upped their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Morgan Stanley raised their target price 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, May 1st. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $99.00.

Omnicom Group Stock Performance

Shares of OMC stock opened at $78.55 on Friday. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 201.41, a PEG ratio of 0.46 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average price is $74.86 and its 200-day moving average price is $76.74. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17.

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The firm’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Equities research analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Announces Dividend

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

Omnicom Group Company 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.