Cerro Pacific Wealth Advisors LLC Acquires Shares of 5,881 Omnicom Group Inc. (NYSE:OMC)

Cerro Pacific Wealth Advisors LLC bought a new stake in Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,881 shares of the business services provider’s stock, valued at approximately $506,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new stake in Omnicom Group in the fourth quarter valued at $25,000. Versant Capital Management Inc increased its position in shares of Omnicom Group by 645.2% in the 4th quarter. Versant Capital Management Inc now owns 313 shares of the business services provider’s stock worth $27,000 after purchasing an additional 271 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Omnicom Group in the 3rd quarter valued at about $33,000. Davis Capital Management bought a new position in shares of Omnicom Group during the third quarter worth about $36,000. Finally, HM Payson & Co. grew its stake in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Omnicom Group Price Performance

Shares of OMC opened at $86.21 on Friday. The firm has a market capitalization of $16.82 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.89 and a beta of 0.98. The stock’s fifty day moving average is $92.23 and its 200-day moving average is $96.46. Omnicom Group Inc. has a one year low of $81.42 and a one year high of $107.00. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 20th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, December 20th. Omnicom Group’s dividend payout ratio is currently 38.25%.

Analyst Ratings Changes

Several analysts have issued reports on OMC shares. Wells Fargo & Company cut their price objective 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. Barclays raised their price objective on Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Macquarie reiterated an “outperform” rating and set a $120.00 target price on shares of Omnicom Group in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their price target on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Omnicom Group presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

About Omnicom Group

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.