Conning Inc. Buys 24,393 Shares of Omnicom Group Inc. $OMC

Conning Inc. lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 6.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 432,749 shares of the business services provider’s stock after buying an additional 24,393 shares during the quarter. Conning Inc. owned approximately 0.15% of Omnicom Group worth $32,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OMC. Summit Securities Group LLC lifted its stake in Omnicom Group by 226.9% in the 1st quarter. Summit Securities Group LLC now owns 2,200 shares of the business services provider’s stock worth $166,000 after purchasing an additional 1,527 shares in the last quarter. First Horizon Corp grew its position in shares of Omnicom Group by 28.8% during the first quarter. First Horizon Corp now owns 107,383 shares of the business services provider’s stock valued at $8,087,000 after purchasing an additional 23,985 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of Omnicom Group by 15.8% during the first quarter. Kestra Advisory Services LLC now owns 18,175 shares of the business services provider’s stock valued at $1,382,000 after purchasing an additional 2,477 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Omnicom Group by 0.9% in the first quarter. Resona Asset Management Co. Ltd. now owns 99,703 shares of the business services provider’s stock worth $7,509,000 after purchasing an additional 861 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new stake in shares of Omnicom Group in the first quarter worth about $1,233,000. Institutional investors own 91.97% of the company’s stock.

Omnicom Group Trading Up 1.4%

OMC opened at $81.97 on Friday. The stock has a 50-day moving average of $75.29 and a 200 day moving average of $76.73. The company has a current ratio of 0.91, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17. The firm has a market cap of $23.36 billion, a P/E ratio of 210.20, a P/E/G ratio of 0.48 and a beta of 0.63.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $5.85 billion. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 earnings per share. As a group, research analysts forecast that Omnicom Group Inc. will post 10.97 EPS for the current year.

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Wednesday, June 10th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, June 10th. Omnicom Group’s dividend payout ratio is presently 820.51%.

Analyst Ratings Changes

A number of brokerages recently commented on OMC. UBS Group increased their price target on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Omnicom Group in a report on Friday, May 22nd. The Goldman Sachs Group started coverage on Omnicom Group in a research report on Wednesday, June 3rd. They set a “buy” rating and a $146.00 target price for the company. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a report on Thursday, May 28th. They issued a “neutral” rating and a $89.00 target price for the company. Finally, Citigroup reduced their price target on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Omnicom Group presently has an average rating of “Hold” and an average target price of $99.38.

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.