Alps Advisors Inc. Sells 20,372 Shares of Omnicom Group Inc. $OMC

Alps Advisors Inc. cut its stake in Omnicom Group Inc. (NYSE:OMC) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,807 shares of the business services provider’s stock after selling 20,372 shares during the quarter. Alps Advisors Inc. owned 0.16% of Omnicom Group worth $25,911,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OMC. Carlson Capital L.P. grew its holdings in Omnicom Group by 38.7% during the third quarter. Carlson Capital L.P. now owns 9,540 shares of the business services provider’s stock valued at $778,000 after purchasing an additional 2,660 shares during the period. Cullen Capital Management LLC raised its holdings in Omnicom Group by 9.2% in the third quarter. Cullen Capital Management LLC now owns 1,184,141 shares of the business services provider’s stock worth $96,543,000 after purchasing an additional 99,404 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Omnicom Group by 30.9% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,287 shares of the business services provider’s stock worth $920,000 after purchasing an additional 2,667 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Omnicom Group by 4.1% in the 3rd quarter. Savant Capital LLC now owns 44,717 shares of the business services provider’s stock valued at $3,646,000 after buying an additional 1,774 shares during the period. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Omnicom Group by 14.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,632 shares of the business services provider’s stock valued at $459,000 after buying an additional 711 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on OMC shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. UBS Group raised their price target on Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Morgan Stanley began coverage on Omnicom Group in a report on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price objective on the stock. Barclays increased their target price on Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Finally, Bank of America reaffirmed an “underperform” rating and issued a $77.00 price target (down previously from $87.00) on shares of Omnicom Group in a research note on Monday, January 5th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.14.

Omnicom Group Stock Up 1.1%

NYSE:OMC opened at $69.91 on Friday. The stock has a 50-day simple moving average of $77.53 and a 200 day simple moving average of $76.54. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $89.27. The company has a market cap of $13.49 billion, a PE ratio of 10.33, a PEG ratio of 1.13 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92.

Omnicom Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.6%. 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 is 47.27%.

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.