Pictet Asset Management SA Lowers Stake in Omnicom Group Inc. (NYSE:OMC)

Pictet Asset Management SA cut its stake in Omnicom Group Inc. (NYSE:OMCGet Rating) by 19.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,524 shares of the business services provider’s stock after selling 20,218 shares during the quarter. Pictet Asset Management SA’s holdings in Omnicom Group were worth $5,313,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Clear Street Markets LLC grew its position in Omnicom Group by 131.7% during the 2nd quarter. Clear Street Markets LLC now owns 431 shares of the business services provider’s stock worth $27,000 after purchasing an additional 245 shares during the last quarter. Atlas Capital Advisors LLC grew its holdings in shares of Omnicom Group by 6,720.0% during the first quarter. Atlas Capital Advisors LLC now owns 341 shares of the business services provider’s stock valued at $29,000 after buying an additional 336 shares during the last quarter. Arlington Partners LLC acquired a new stake in Omnicom Group during the 2nd quarter worth about $30,000. Carl Stuart Investment Advisor Inc. acquired a new position in shares of Omnicom Group in the first quarter valued at about $34,000. Finally, Venture Visionary Partners LLC acquired a new position in Omnicom Group during the second quarter valued at $36,000. 90.85% of the stock is owned by institutional investors.

Omnicom Group Stock Up 1.3 %

Shares of OMC opened at $77.20 on Friday. The stock has a 50 day moving average price of $69.24 and a 200 day moving average price of $69.41. Omnicom Group Inc. has a one year low of $61.31 and a one year high of $91.61. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.84 and a current ratio of 0.95. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 4.23 and a beta of 0.86.

Omnicom Group (NYSE:OMCGet Rating) last released its earnings results on Tuesday, October 18th. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.34 billion. Omnicom Group had a net margin of 9.13% and a return on equity of 40.82%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Equities research analysts forecast that Omnicom Group Inc. will post 6.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OMC. BNP Paribas began coverage on Omnicom Group in a report on Thursday, August 25th. They set an “underperform” rating on the stock. Barclays lifted their target price on shares of Omnicom Group to $80.00 in a report on Thursday, October 27th. Morgan Stanley decreased their price objective on shares of Omnicom Group from $70.00 to $67.00 and set an “underweight” rating for the company in a research report on Tuesday, October 25th. Redburn Partners restated a “neutral” rating on shares of Omnicom Group in a research report on Thursday, September 8th. Finally, Exane BNP Paribas started coverage on Omnicom Group in a report on Thursday, August 25th. They issued an “underperform” rating for the company. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Omnicom Group currently has an average rating of “Hold” and an average target price of $84.60.

Insider Buying and Selling at Omnicom Group

In other news, Director Linda Johnson Rice sold 1,300 shares of Omnicom Group stock in a transaction on Monday, October 24th. The stock was sold at an average price of $70.79, for a total transaction of $92,027.00. Following the transaction, the director now owns 10,048 shares in the company, valued at approximately $711,297.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

About Omnicom Group

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Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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