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

Conning Inc. raised its position in Omnicom Group Inc. (NYSE:OMC) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 432,749 shares of the business services provider’s stock after purchasing an additional 24,393 shares during the quarter. Conning Inc.’s holdings in Omnicom Group were worth $32,590,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in shares of Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the period. Bayforest Capital Ltd purchased a new position in Omnicom Group during the 4th quarter valued at $26,000. Elyxium Wealth LLC purchased a new position in Omnicom Group during the 4th quarter valued at $26,000. Legacy Wealth Managment LLC ID grew its position in Omnicom Group by 111.4% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Finally, EFG International AG bought a new position in Omnicom Group in the 4th quarter valued at $28,000. Institutional investors own 91.97% of the company’s stock.

Wall Street Analyst Weigh In

OMC has been the subject of several research analyst reports. Morgan Stanley lifted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. UBS Group upped their price target on shares of Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, March 20th. The Goldman Sachs Group began coverage on shares of Omnicom Group in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $146.00 price target on the stock. Rothschild & Co Redburn started coverage on shares of Omnicom Group in a report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price objective for the company. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Omnicom Group currently has an average rating of “Hold” and a consensus price target of $99.38.

Omnicom Group Trading Up 1.4%

OMC opened at $81.97 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $75.29 and its two-hundred day moving average is $76.73. The company has a market capitalization of $23.36 billion, a P/E ratio of 210.20, a PEG ratio of 0.48 and a beta of 0.63. Omnicom Group Inc. has a 52 week low of $66.33 and a 52 week high of $87.17.

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

Omnicom Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th were paid a $0.80 dividend. 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 (DPR) is 820.51%.

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.