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

Conning Inc. lifted its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 477,883 shares of the business services provider’s stock after purchasing an additional 48,461 shares during the quarter. Conning Inc.’s holdings in Omnicom Group were worth $34,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Shayne & Jacobs LLC boosted its holdings in shares of Omnicom Group by 17.7% during the 2nd quarter. Shayne & Jacobs LLC now owns 41,321 shares of the business services provider’s stock worth $2,973,000 after purchasing an additional 6,220 shares during the last quarter. Aberdeen Group plc boosted its holdings in shares of Omnicom Group by 4.6% during the 2nd quarter. Aberdeen Group plc now owns 143,355 shares of the business services provider’s stock worth $10,256,000 after purchasing an additional 6,303 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Omnicom Group by 61.5% during the 2nd quarter. Blue Trust Inc. now owns 3,697 shares of the business services provider’s stock worth $266,000 after purchasing an additional 1,408 shares during the last quarter. Total Wealth Planning & Management Inc. boosted its holdings in shares of Omnicom Group by 2.2% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 13,437 shares of the business services provider’s stock worth $967,000 after purchasing an additional 285 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Omnicom Group by 95.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 33,104 shares of the business services provider’s stock worth $2,382,000 after purchasing an additional 16,196 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Trading Down 1.4%

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

Omnicom Group (NYSE:OMC) last released its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.95 billion. During the same period in the prior year, the firm posted $1.95 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts expect that Omnicom Group Inc. will post 8.25 EPS for the current year.

Omnicom Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OMC shares. JPMorgan Chase & Co. lowered their target price on Omnicom Group from $104.00 to $96.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Wells Fargo & Company upgraded Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $78.00 to $91.00 in a report on Tuesday, September 23rd. Bank of America upgraded Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 target price on the stock in a report on Monday, June 23rd. Barclays cut Omnicom Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Omnicom Group in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.29.

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.