Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases New Shares in Omnicom Group Inc. $OMC

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new fourth-quarter stake in Omnicom Group, buying 149,307 shares valued at about $12.1 million.
• Other major institutional investors also increased their Omnicom positions, and 91.97% of the stock is owned by institutions, highlighting strong professional investor ownership.
• Omnicom recently beat quarterly earnings and revenue estimates, and it also announced a $0.80 quarterly dividend plus a $5 billion share repurchase program.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 149,307 shares of the business services provider's stock, valued at approximately $12,057,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned approximately 0.08% of Omnicom Group at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Omnicom Group by 64.2% during the fourth 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 in the last quarter. State Street Corp raised its position in Omnicom Group by 15.8% in the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider's stock worth $1,384,980,000 after acquiring an additional 2,298,652 shares during the period. JPMorgan Chase & Co. raised its position in Omnicom Group by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider's stock worth $660,969,000 after acquiring an additional 1,893,316 shares during the period. Massachusetts Financial Services Co. MA raised its position in Omnicom Group by 5.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,870,437 shares of the business services provider's stock worth $635,538,000 after acquiring an additional 433,461 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Omnicom Group by 73.6% in the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider's stock worth $542,376,000 after acquiring an additional 2,820,553 shares during the period. 91.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OMC. Argus raised shares of Omnicom Group to a "hold" rating in a research report on Thursday, March 26th. UBS Group lifted their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Morgan Stanley lifted their price objective on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Citigroup lowered their price objective on shares of Omnicom Group from $115.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, April 30th. Finally, Barclays lifted their price objective on shares of Omnicom Group from $82.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Omnicom Group presently has an average rating of "Hold" and an average target price of $93.71.

Omnicom Group Stock Performance

NYSE OMC opened at $71.82 on Wednesday. The company's 50 day moving average is $76.31 and its 200-day moving average is $76.51. Omnicom Group Inc. has a 12-month low of $66.33 and a 12-month high of $87.17. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The firm has a market cap of $20.47 billion, a P/E ratio of 184.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Omnicom Group had a net margin of 0.32% and a return on equity of 24.48%. The company had revenue of $6.24 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the previous year, the firm posted $1.70 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 4.5%. Omnicom Group's payout ratio is 820.51%.

Omnicom Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 18th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 38.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Omnicom Group Profile

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.

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