Fifth Third Bancorp Reduces Stock Position in Omnicom Group Inc. (NYSE:OMC)

Fifth Third Bancorp lessened its position in shares of Omnicom Group Inc. (NYSE:OMC) by 20.7% during the 4th quarter, Holdings Channel reports. The firm owned 6,546 shares of the business services provider’s stock after selling 1,711 shares during the quarter. Fifth Third Bancorp’s holdings in Omnicom Group were worth $563,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in shares of Omnicom Group in the second quarter worth about $1,606,000. Public Sector Pension Investment Board boosted its stake in shares of Omnicom Group by 70.8% in the second quarter. Public Sector Pension Investment Board now owns 7,622 shares of the business services provider’s stock worth $684,000 after buying an additional 3,159 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Omnicom Group by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 137,327 shares of the business services provider’s stock worth $12,318,000 after buying an additional 1,421 shares during the last quarter. Creative Planning boosted its stake in shares of Omnicom Group by 5.0% in the second quarter. Creative Planning now owns 58,803 shares of the business services provider’s stock worth $5,275,000 after buying an additional 2,787 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Omnicom Group by 3.2% in the second quarter. NewEdge Advisors LLC now owns 41,122 shares of the business services provider’s stock worth $3,689,000 after buying an additional 1,261 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on OMC. Wells Fargo & Company lowered their target price on Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. UBS Group upped their price target on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on Omnicom Group from $119.00 to $116.00 and set an “overweight” rating for the company in a report on Monday. Barclays reduced their price target on Omnicom Group from $121.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $86.52 on Friday. The business has a 50 day simple moving average of $90.99 and a two-hundred day simple moving average of $96.31. Omnicom Group Inc. has a 12 month low of $81.42 and a 12 month high of $107.00. The stock has a market capitalization of $16.88 billion, a P/E ratio of 11.82, a PEG ratio of 1.88 and a beta of 0.98. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.98 and a quick ratio of 0.86.

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.24%. Omnicom Group’s payout ratio is currently 38.25%.

Omnicom Group 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.