Fifth Third Wealth Advisors LLC Raises Position in Omnicom Group Inc. (NYSE:OMC)

Fifth Third Wealth Advisors LLC grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 17.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,777 shares of the business services provider’s stock after purchasing an additional 700 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Omnicom Group were worth $494,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Omnicom Group during the 2nd quarter worth $33,000. Innealta Capital LLC purchased a new position in shares of Omnicom Group in the 2nd quarter worth $33,000. Northwest Investment Counselors LLC purchased a new position in shares of Omnicom Group in the 3rd quarter worth $33,000. Davis Capital Management purchased a new position in shares of Omnicom Group in the 3rd quarter worth $36,000. Finally, HM Payson & Co. raised its position in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 1.1 %

Shares of NYSE OMC opened at $99.08 on Thursday. The stock has a fifty day moving average price of $102.13 and a 200 day moving average price of $96.66. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a market cap of $19.33 billion, a P/E ratio of 13.54, a P/E/G ratio of 2.18 and a beta of 0.95. Omnicom Group Inc. has a 12-month low of $78.65 and a 12-month high of $107.00.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period last year, the firm earned $1.86 earnings per share. Research analysts anticipate that Omnicom Group Inc. will post 7.94 EPS for the current fiscal year.

Insider Activity

In other news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares in the company, valued at $1,524,738.75. This trade represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at $2,479,053.05. The trade was a 14.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America increased their target price on Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. increased their target price on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group increased their target price on Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Macquarie increased their target price on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company downgraded Omnicom Group from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $106.00 to $110.00 in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.11.

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.