Cullen Frost Bankers Inc. Lowers Position in Omnicom Group Inc. (NYSE:OMC)

Cullen Frost Bankers Inc. cut its holdings in Omnicom Group Inc. (NYSE:OMC) by 3.3% in the second quarter, Holdings Channel reports. The fund owned 176,056 shares of the business services provider’s stock after selling 6,038 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Omnicom Group were worth $15,792,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OMC. Center For Asset Management LLC lifted its holdings in Omnicom Group by 2.6% in the 2nd quarter. Center For Asset Management LLC now owns 4,277 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 107 shares in the last quarter. Marino Stram & Associates LLC lifted its holdings in Omnicom Group by 1.0% in the 1st quarter. Marino Stram & Associates LLC now owns 11,613 shares of the business services provider’s stock valued at $1,124,000 after purchasing an additional 110 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Omnicom Group by 2.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,271 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 119 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Omnicom Group by 18.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 780 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 119 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Omnicom Group by 2.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,142 shares of the business services provider’s stock valued at $594,000 after purchasing an additional 122 shares in the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on OMC shares. Macquarie reissued an “outperform” rating and set a $110.00 price objective on shares of Omnicom Group in a research report on Wednesday, July 17th. UBS Group upped their target price on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Bank of America upped their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.30.

Omnicom Group Stock Performance

Shares of OMC stock traded down $1.17 during trading hours on Friday, hitting $98.74. The stock had a trading volume of 1,062,618 shares, compared to its average volume of 1,567,487. The firm has a market capitalization of $19.34 billion, a PE ratio of 13.34, a PEG ratio of 2.36 and a beta of 0.94. Omnicom Group Inc. has a twelve month low of $72.20 and a twelve month high of $102.13. The stock’s 50 day moving average is $94.40 and its 200 day moving average is $93.19. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.93 and a quick ratio of 0.81.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, July 16th. The business services provider reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.83 billion. Omnicom Group had a return on equity of 37.51% and a net margin of 9.55%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 earnings per share. As a group, research analysts forecast that Omnicom Group Inc. will post 7.95 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Friday, September 20th. Omnicom Group’s payout ratio is currently 37.84%.

Insider Activity

In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,524,738.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on 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 of the company’s stock, valued at $1,524,738.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Linda Johnson Rice sold 488 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the transaction, the director now owns 10,356 shares of the company’s stock, valued at approximately $941,153.28. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.