Omnicom Group Inc. $OMC Shares Bought by Conning Inc.

Conning Inc. boosted its position in shares of Omnicom Group Inc. (NYSE:OMC) by 11.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 477,883 shares of the business services provider’s stock after acquiring an additional 48,461 shares during the quarter. Conning Inc. owned about 0.25% of Omnicom Group worth $34,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in shares of Omnicom Group during the 1st quarter valued at about $34,000. Ameritas Advisory Services LLC purchased a new position in shares of Omnicom Group during the 2nd quarter valued at about $34,000. Gen Wealth Partners Inc purchased a new position in shares of Omnicom Group during the 1st quarter valued at about $36,000. Golden State Wealth Management LLC raised its stake in shares of Omnicom Group by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 492 shares of the business services provider’s stock valued at $41,000 after buying an additional 343 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Omnicom Group during the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of Omnicom Group stock opened at $76.50 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.97. Omnicom Group Inc. has a twelve month low of $68.37 and a twelve month high of $107.00. The business has a 50-day moving average price of $76.88 and a 200 day moving average price of $75.02. The firm has a market cap of $14.82 billion, a PE ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.96.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, July 15th. The business services provider reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%.The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the business earned $1.95 EPS. Omnicom Group’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts predict that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 2nd were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, September 2nd. Omnicom Group’s payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating for the company in a research note on Thursday, July 10th. Wells Fargo & Company upgraded 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 research note on Tuesday, September 23rd. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Monday, June 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a research note on Wednesday. Finally, Barclays lowered Omnicom Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $105.00 to $80.00 in a research note on Wednesday, June 25th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.29.

About Omnicom Group

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.