Omnicom Group Inc. $OMC Position Lowered by Conning Inc.

Conning Inc. reduced its stake in shares of Omnicom Group Inc. (NYSE:OMC – Free Report) by 8.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 457,602 shares of the business services provider’s stock after selling 41,377 shares during the quarter. Conning Inc.’s holdings in Omnicom Group were worth $33,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OMC. Orca Investment Management LLC purchased a new stake in Omnicom Group in the 2nd quarter worth approximately $2,023,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Omnicom Group during the 2nd quarter valued at $9,146,000. Polianta Ltd purchased a new position in shares of Omnicom Group during the 2nd quarter valued at $1,762,000. NewEdge Advisors LLC grew its holdings in shares of Omnicom Group by 27.8% during the 1st quarter. NewEdge Advisors LLC now owns 57,040 shares of the business services provider’s stock valued at $4,296,000 after acquiring an additional 12,425 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of Omnicom Group during the 2nd quarter valued at $92,660,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Omnicom Group

In related news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the sale, the director directly owned 11,719 shares in the company, valued at approximately $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OMC. Citigroup dropped their price target on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective on Omnicom Group from $115.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, October 23rd. Zacks Research upgraded Omnicom Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings upgraded Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, July 30th. Finally, Argus raised Omnicom Group to a “hold” rating in a research report on Monday, September 14th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.67.

Read Our Latest Analysis on Omnicom Group

Omnicom Group Stock Performance

OMC stock opened at $77.67 on Thursday. The firm has a 50 day moving average of $80.07 and a two-hundred day moving average of $78.22. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The company has a market capitalization of $21.31 billion, a price-to-earnings ratio of 43.39, a P/E/G ratio of 0.71 and a beta of 0.68. The company has a quick ratio of 0.78, a current ratio of 0.92 and a debt-to-equity ratio of 0.97.

Omnicom Group (NYSE:OMC – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The business services provider reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.06. The business had revenue of $6.42 billion for the quarter, compared to the consensus estimate of $6.21 billion. Omnicom Group had a net margin of 2.85% and a return on equity of 24.29%. Omnicom Group’s revenue for the quarter was up 59.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.24 EPS. As a group, equities analysts anticipate that Omnicom Group Inc. will post 10.37 EPS for the current fiscal year.

Omnicom Group Profile

(Free Report)

Omnicom Group Inc is a global marketing and communications company that provides advertising, media, branding, public relations, customer relationship management, and digital marketing services. The company works with organizations across industries to develop brand strategies, create content, manage media campaigns, and engage customers through traditional and digital channels.

Omnicom operates through a network of independently branded agencies, including BBDO Worldwide, DDB Worldwide, TBWA Worldwide, Omnicom Media Group, FleishmanHillard, Ketchum, Porter Novelli, RAPP, and several specialized healthcare, experiential, and data-driven marketing agencies.

See Also

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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