Fifth Third Bancorp Acquires 277 Shares of Omnicom Group Inc. $OMC

Fifth Third Bancorp raised its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,736 shares of the business services provider’s stock after buying an additional 277 shares during the quarter. Fifth Third Bancorp’s holdings in Omnicom Group were worth $557,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OMC. Zions Bancorporation National Association UT purchased a new position in shares of Omnicom Group in the 1st quarter valued at approximately $34,000. Gen Wealth Partners Inc purchased a new position in shares of Omnicom Group in the 1st quarter valued at approximately $36,000. Versant Capital Management Inc lifted its stake in shares of Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 143 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Omnicom Group by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 343 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Omnicom Group in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on OMC shares. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Monday, June 23rd. Barclays downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Wells Fargo & Company raised Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.29.

Omnicom Group Stock Up 2.7%

Omnicom Group stock opened at $79.10 on Tuesday. The stock has a market cap of $15.32 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.80 and a current ratio of 0.92. Omnicom Group Inc. has a one year low of $68.37 and a one year high of $107.00. The stock has a fifty day moving average of $76.20 and a 200 day moving average of $75.09.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.03. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.Omnicom Group’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 earnings per share. As a group, sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, September 2nd. Omnicom Group’s dividend payout ratio is 40.17%.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.