Cullen Capital Management LLC Increases Stock Position in Omnicom Group Inc. $OMC

Cullen Capital Management LLC lifted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 9.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,184,141 shares of the business services provider’s stock after purchasing an additional 99,404 shares during the period. Cullen Capital Management LLC’s holdings in Omnicom Group were worth $96,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OMC. Asset Management One Co. Ltd. boosted its stake in shares of Omnicom Group by 3.5% in the second quarter. Asset Management One Co. Ltd. now owns 84,329 shares of the business services provider’s stock valued at $6,067,000 after purchasing an additional 2,855 shares during the period. Principal Financial Group Inc. lifted its holdings in Omnicom Group by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,877,462 shares of the business services provider’s stock worth $153,068,000 after buying an additional 295,379 shares in the last quarter. Defender Capital LLC. purchased a new position in Omnicom Group in the 2nd quarter valued at about $360,000. Vanguard Group Inc. boosted its position in Omnicom Group by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,811,406 shares of the business services provider’s stock valued at $1,712,993,000 after buying an additional 344,652 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Omnicom Group during the third quarter valued at about $5,888,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group raised their price objective on Omnicom Group from $99.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, December 5th. Morgan Stanley began coverage on Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 target price for the company. Bank of America restated 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Omnicom Group in a report on Thursday, January 22nd. Finally, Barclays raised their price objective on shares of Omnicom Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $92.14.

Omnicom Group Price Performance

Shares of NYSE:OMC opened at $69.04 on Thursday. The company has a market cap of $13.32 billion, a PE ratio of 10.20, a P/E/G ratio of 1.10 and a beta of 0.74. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $89.27. The firm has a 50-day simple moving average of $77.61 and a 200 day simple moving average of $76.58. 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 business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, December 19th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.70. Omnicom Group’s payout ratio is currently 47.27%.

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.