Conning Inc. Sells 54,355 Shares of Omnicom Group Inc. $OMC

Conning Inc. lessened its stake in Omnicom Group Inc. (NYSE:OMC) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423,528 shares of the business services provider’s stock after selling 54,355 shares during the period. Omnicom Group accounts for about 1.1% of Conning Inc.’s portfolio, making the stock its 25th largest position. Conning Inc.’s holdings in Omnicom Group were worth $34,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OMC. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Omnicom Group by 32.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,080 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 265 shares in the last quarter. Czech National Bank increased its holdings in Omnicom Group by 5.7% during the 2nd quarter. Czech National Bank now owns 47,691 shares of the business services provider’s stock worth $3,431,000 after purchasing an additional 2,567 shares during the period. Berkshire Bank raised its position in Omnicom Group by 13.0% during the 2nd quarter. Berkshire Bank now owns 3,652 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 419 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. lifted its holdings in shares of Omnicom Group by 30.9% in the 2nd quarter. Financiere des Professionnels Fonds d investissement inc. now owns 104,466 shares of the business services provider’s stock worth $7,515,000 after buying an additional 24,674 shares during the period. Finally, Focus Financial Network Inc. grew its position in shares of Omnicom Group by 28.5% during the 2nd quarter. Focus Financial Network Inc. now owns 3,209 shares of the business services provider’s stock worth $231,000 after buying an additional 711 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Stock Up 3.4%

Shares of Omnicom Group stock opened at $80.15 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a market cap of $15.47 billion, a P/E ratio of 11.84, a PEG ratio of 1.29 and a beta of 0.74. The firm’s 50 day moving average price is $76.40 and its 200-day moving average price is $76.16. Omnicom Group Inc. has a 52-week low of $68.37 and a 52-week high of $89.35.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, October 21st. The business services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.07. Omnicom Group had a net margin of 8.31% and a return on equity of 33.30%. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the firm earned $2.03 earnings per share. Omnicom Group’s revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

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 given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend 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 47.27%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays raised their price target on Omnicom Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, October 23rd. 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 report on Monday, January 5th. UBS Group upped their price target on shares of Omnicom Group from $99.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. Wells Fargo & Company raised shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $78.00 to $91.00 in a report on Tuesday, September 23rd. Finally, Morgan Stanley started coverage on shares of Omnicom Group in a research note on Tuesday, December 16th. They issued an “equal weight” rating and a $88.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.14.

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.