Omnicom Group Inc. $OMC Stock Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its position in Omnicom Group Inc. (NYSE:OMC) by 6.8% during the fourth quarter, Holdings Channel reports. The fund owned 282,668 shares of the business services provider’s stock after selling 20,553 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Omnicom Group were worth $22,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of OMC. Vanguard Group Inc. boosted its stake in Omnicom Group by 64.2% during the 4th quarter. Vanguard Group Inc. now owns 38,934,118 shares of the business services provider’s stock valued at $3,143,930,000 after purchasing an additional 15,220,444 shares during the period. First Eagle Investment Management LLC acquired a new stake in shares of Omnicom Group in the third quarter valued at approximately $515,145,000. Bank of New York Mellon Corp raised its holdings in shares of Omnicom Group by 73.6% during the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock valued at $542,376,000 after buying an additional 2,820,553 shares during the last quarter. State Street Corp raised its holdings in shares of Omnicom Group by 15.8% during the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock valued at $1,384,980,000 after buying an additional 2,298,652 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Omnicom Group by 30.5% during the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after buying an additional 1,893,316 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the subject of a number of recent analyst reports. Bank of America reissued an “underperform” rating and issued a $77.00 price objective (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Barclays boosted their price target on Omnicom Group from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. UBS Group raised their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a report on Friday, March 20th. Finally, Argus upgraded shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and a consensus price target of $94.43.

Omnicom Group Trading Up 0.7%

Omnicom Group stock opened at $76.73 on Friday. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.93 and a quick ratio of 0.81. The stock has a market capitalization of $21.87 billion, a PE ratio of 196.76, a price-to-earnings-growth ratio of 0.59 and a beta of 0.73. The firm has a 50 day simple moving average of $78.37 and a 200-day simple moving average of $76.81.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, April 28th. The business services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a return on equity of 26.45% and a net margin of 0.32%.The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter last year, the business posted $1.70 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts expect that Omnicom Group Inc. will post 10.92 EPS for the current fiscal year.

Omnicom Group announced that its Board of Directors has approved a stock buyback program on Wednesday, February 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a yield of 4.2%. Omnicom Group’s dividend payout ratio is currently 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.