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

Key Points

• Fifth Third Bancorp dramatically increased its stake in Omnicom Group, buying 85,798 additional shares in Q1 and boosting its position by 552.4% to 101,331 shares worth about $7.63 million.
• Omnicom reported stronger-than-expected quarterly results, posting $1.90 EPS versus the $1.84 estimate and revenue of $6.24 billion versus $5.85 billion expected.
• The company also paid a $0.80 quarterly dividend, annualizing to $3.20 per share for a 3.9% yield, while analysts currently rate the stock a consensus Hold with a target price of $99.38.

Fifth Third Bancorp boosted its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 552.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,331 shares of the business services provider's stock after buying an additional 85,798 shares during the quarter. Fifth Third Bancorp's holdings in Omnicom Group were worth $7,631,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Omnicom Group by 4.1% in the fourth quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 3,775 shares of the business services provider's stock valued at $305,000 after acquiring an additional 147 shares during the last quarter. Wakefield Asset Management LLLP lifted its position in Omnicom Group by 2.6% during the 4th quarter. Wakefield Asset Management LLLP now owns 5,910 shares of the business services provider's stock valued at $477,000 after purchasing an additional 149 shares during the period. Caldwell Trust Co lifted its position in Omnicom Group by 29.0% during the 1st quarter. Caldwell Trust Co now owns 662 shares of the business services provider's stock valued at $50,000 after purchasing an additional 149 shares during the period. SJS Investment Consulting Inc. boosted its stake in shares of Omnicom Group by 39.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 544 shares of the business services provider's stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its position in shares of Omnicom Group by 27.0% during the 4th quarter. Hartford Financial Management Inc. now owns 762 shares of the business services provider's stock worth $62,000 after buying an additional 162 shares during the period. 91.97% of the stock is currently owned by institutional investors.

Omnicom Group Price Performance

OMC stock opened at $81.03 on Thursday. The stock has a 50-day moving average price of $75.55 and a two-hundred day moving average price of $76.75. Omnicom Group Inc. has a 1 year low of $66.33 and a 1 year high of $87.17. The stock has a market cap of $23.09 billion, a PE ratio of 207.78, a price-to-earnings-growth ratio of 0.48 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Omnicom Group (NYSE:OMC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $6.24 billion for 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 revenue was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. Equities analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th were issued a $0.80 dividend. The ex-dividend date was Wednesday, June 10th. This represents a $3.20 annualized dividend and a dividend yield of 3.9%. Omnicom Group's dividend payout ratio (DPR) is presently 820.51%.

Analyst Ratings Changes

OMC has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Omnicom Group from $108.00 to $114.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Argus upgraded Omnicom Group to a "hold" rating in a research report on Thursday, March 26th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Omnicom Group in a report on Friday, May 22nd. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They issued a "neutral" rating and a $89.00 target price on the stock. Finally, Morgan Stanley raised their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $99.38.

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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