Fifth Third Bancorp Buys 85,798 Shares of Omnicom Group Inc. $OMC

Fifth Third Bancorp grew its position in Omnicom Group Inc. (NYSE:OMC) by 552.4% in the first quarter, HoldingsChannel.com reports. The fund owned 101,331 shares of the business services provider’s stock after buying an additional 85,798 shares during the period. Fifth Third Bancorp’s holdings in Omnicom Group were worth $7,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Activest Wealth Management increased its position in Omnicom Group by 2,960.0% during the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd bought a new stake in Omnicom Group in the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of Omnicom Group in the fourth quarter valued at approximately $26,000. Legacy Wealth Managment LLC ID lifted its position in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Finally, EFG International AG bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $28,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE:OMC opened at $81.03 on Thursday. The stock has a fifty day moving average price of $75.55 and a 200-day moving average price of $76.75. The company has a market cap of $23.09 billion, a price-to-earnings ratio of 207.78, a PEG ratio of 0.48 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 0.32% and a return on equity of 24.48%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.70 EPS. As a group, equities analysts anticipate that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. Omnicom Group’s payout ratio is 820.51%.

Wall Street Analyst Weigh In

Several research firms have weighed in on OMC. Morgan Stanley increased their price target on shares of Omnicom Group from $82.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Weiss Ratings restated a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. Rothschild & Co Redburn started coverage on Omnicom Group in a research report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price on the stock. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price on the stock. Finally, Argus raised Omnicom Group to a “hold” rating in a report on Thursday, March 26th. Four 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $99.38.

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.