Conning Inc. Has $30.92 Million Position in Omnicom Group Inc. (NYSE:OMC)

Conning Inc. reduced its holdings in Omnicom Group Inc. (NYSE:OMC) by 4.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 359,306 shares of the business services provider’s stock after selling 17,685 shares during the period. Conning Inc. owned approximately 0.18% of Omnicom Group worth $30,915,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. World Investment Advisors LLC lifted its holdings in Omnicom Group by 209.7% in the third quarter. World Investment Advisors LLC now owns 26,311 shares of the business services provider’s stock valued at $2,720,000 after buying an additional 17,815 shares during the period. Worldquant Millennium Advisors LLC acquired a new stake in Omnicom Group in the third quarter worth $713,000. Thrivent Financial for Lutherans raised its holdings in Omnicom Group by 40.9% in the third quarter. Thrivent Financial for Lutherans now owns 29,750 shares of the business services provider’s stock worth $3,077,000 after purchasing an additional 8,643 shares during the period. Assetmark Inc. raised its holdings in Omnicom Group by 2.0% in the third quarter. Assetmark Inc. now owns 489,039 shares of the business services provider’s stock worth $50,562,000 after purchasing an additional 9,774 shares during the period. Finally, Transamerica Financial Advisors Inc. raised its holdings in Omnicom Group by 569.2% in the third quarter. Transamerica Financial Advisors Inc. now owns 10,881 shares of the business services provider’s stock worth $1,125,000 after purchasing an additional 9,255 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OMC shares. UBS Group increased their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. cut their target price on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Barclays cut their target price on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Macquarie reiterated an “outperform” rating and issued a $120.00 target price on shares of Omnicom Group in a report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Omnicom Group has a consensus rating of “Moderate Buy” and a consensus target price of $108.25.

Omnicom Group Trading Down 0.6 %

Shares of NYSE:OMC opened at $83.76 on Friday. Omnicom Group Inc. has a 12 month low of $81.42 and a 12 month high of $107.00. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company’s fifty day simple moving average is $88.88 and its 200 day simple moving average is $96.01. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.89 and a beta of 0.97.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, February 4th. The business services provider reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period in the prior year, the company earned $2.20 earnings per share. As a group, research analysts forecast that Omnicom Group Inc. will post 7.99 EPS for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 20th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, December 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 37.58%.

Omnicom Group Company Profile

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.