Omnicom Group Inc. $OMC Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lessened its holdings in Omnicom Group Inc. (NYSE:OMC) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,838 shares of the business services provider’s stock after selling 11,925 shares during the period. Cullen Frost Bankers Inc. owned about 0.09% of Omnicom Group worth $13,439,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in shares of Omnicom Group by 289.4% during the third quarter. Meeder Asset Management Inc. now owns 366 shares of the business services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Capital A Wealth Management LLC raised its holdings in shares of Omnicom Group by 548.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 376 shares of the business services provider’s stock valued at $27,000 after buying an additional 318 shares during the period. Harbor Asset Planning Inc. acquired a new position in Omnicom Group during the 2nd quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new position in Omnicom Group in the 2nd quarter worth approximately $34,000. Finally, Quent Capital LLC purchased a new position in Omnicom Group in the 3rd quarter worth approximately $39,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Up 0.7%

Shares of Omnicom Group stock opened at $79.81 on Monday. The business has a 50-day moving average price of $77.26 and a 200 day moving average price of $76.45. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $89.35. The firm has a market cap of $15.40 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.33 and a beta of 0.74. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.

Omnicom Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.0%. This is a boost from Omnicom Group’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, December 19th. Omnicom Group’s dividend payout ratio (DPR) is 47.27%.

Analyst Ratings Changes

OMC has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. UBS Group lifted their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, December 5th. Morgan Stanley assumed coverage on shares of Omnicom Group in a research report on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective for the company. Bank of America restated an “underperform” rating and set a $77.00 target price (down from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $92.14.

About Omnicom Group

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.