Swiss National Bank Purchases 46,800 Shares of Omnicom Group Inc. $OMC

Swiss National Bank grew its position in Omnicom Group Inc. (NYSE:OMC) by 5.3% during the 1st quarter, HoldingsChannel reports. The fund owned 923,271 shares of the business services provider’s stock after purchasing an additional 46,800 shares during the period. Swiss National Bank’s holdings in Omnicom Group were worth $69,532,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position 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 worth $138,000 after purchasing an additional 869 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $241,000. Gabelli Funds LLC purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $1,061,000. Daiwa Securities Group Inc. grew its stake in shares of Omnicom Group by 5.3% during 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 buying an additional 1,482 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider’s stock valued at $25,990,000 after buying an additional 44,746 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Down 4.0%

Shares of NYSE OMC opened at $79.11 on Wednesday. Omnicom Group Inc. has a twelve month low of $66.33 and a twelve month high of $87.17. The firm has a market cap of $22.55 billion, a PE ratio of 202.85, a price-to-earnings-growth ratio of 0.49 and a beta of 0.63. The business has a fifty day simple moving average of $76.00 and a two-hundred day simple moving average of $76.78. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $6.24 billion for 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 business’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.70 EPS. Analysts expect that Omnicom Group Inc. will post 10.97 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a yield of 4.0%. Omnicom Group’s dividend payout ratio is 820.51%.

Analysts Set New Price Targets

OMC has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 price target for the company. Argus raised Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Rothschild & Co Redburn started coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Omnicom Group in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Omnicom Group has a consensus rating of “Hold” and a consensus target price of $99.38.

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.