Fifth Third Bancorp Continues to Hold Stake in Omnicom Group Inc. (OMC)
Fifth Third Bancorp held its stake in shares of Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,780 shares of the company’s stock at the end of the fourth quarter. Fifth Third Bancorp’s holdings in Omnicom Group were worth $1,086,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Turner Investments LLC purchased a new stake in shares of Omnicom Group during the fourth quarter valued at $2,050,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Omnicom Group by 39.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,728 shares of the company’s stock valued at $573,000 after buying an additional 1,910 shares in the last quarter. Comerica Bank boosted its stake in shares of Omnicom Group by 0.5% in the fourth quarter. Comerica Bank now owns 84,419 shares of the company’s stock valued at $7,201,000 after buying an additional 412 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Omnicom Group by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 328,411 shares of the company’s stock valued at $27,951,000 after buying an additional 1,260 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Omnicom Group during the fourth quarter valued at $416,000. 96.65% of the stock is owned by hedge funds and other institutional investors.
Shares of Omnicom Group Inc. (NYSE:OMC) opened at 85.32 on Friday. The stock has a 50 day moving average price of $85.52 and a 200-day moving average price of $84.38. Omnicom Group Inc. has a 52 week low of $75.40 and a 52 week high of $89.66. The company has a market capitalization of $20.01 billion, a PE ratio of 17.85 and a beta of 1.28.
Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, February 7th. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. Omnicom Group had a return on equity of 40.97% and a net margin of 7.42%. Omnicom Group’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share. Equities research analysts expect that Omnicom Group Inc. will post $5.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 7th. Investors of record on Thursday, March 9th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.58%. The ex-dividend date is Tuesday, March 7th. Omnicom Group’s dividend payout ratio (DPR) is presently 45.93%.
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Several analysts have weighed in on the company. Argus cut Omnicom Group from a “buy” rating to a “hold” rating in a report on Thursday, February 9th. Jefferies Group LLC reissued a “hold” rating on shares of Omnicom Group in a report on Wednesday, February 8th. Wedbush boosted their price objective on Omnicom Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, February 2nd. Pivotal Research reaffirmed a “hold” rating and issued a $79.00 price target on shares of Omnicom Group in a research note on Thursday, January 12th. Finally, Zacks Investment Research cut Omnicom Group from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Omnicom Group has a consensus rating of “Hold” and an average price target of $86.27.
In related news, Treasurer Dennis E. Hewitt sold 1,400 shares of the firm’s stock in a transaction dated Saturday, February 11th. The stock was sold at an average price of $85.14, for a total value of $119,196.00. Following the sale, the treasurer now directly owns 37,175 shares of the company’s stock, valued at $3,165,079.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard S. Coleman, Jr. sold 986 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $87.74, for a total value of $86,511.64. Following the completion of the sale, the director now directly owns 26,829 shares in the company, valued at $2,353,976.46. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
About Omnicom Group
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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