Conning Inc. Raises Stock Holdings in Omnicom Group Inc. (NYSE:OMC)

Conning Inc. increased its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 19.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 429,422 shares of the business services provider's stock after buying an additional 70,116 shares during the quarter. Omnicom Group accounts for about 1.2% of Conning Inc.'s investment portfolio, making the stock its 29th largest position. Conning Inc. owned approximately 0.22% of Omnicom Group worth $35,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson Financial Group Inc. boosted its holdings in shares of Omnicom Group by 153.8% in the fourth quarter. Johnson Financial Group Inc. now owns 330 shares of the business services provider's stock worth $29,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Omnicom Group by 45.7% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider's stock valued at $38,000 after buying an additional 143 shares in the last quarter. CoreCap Advisors LLC lifted its position in shares of Omnicom Group by 708.8% during the 4th quarter. CoreCap Advisors LLC now owns 461 shares of the business services provider's stock valued at $40,000 after buying an additional 404 shares in the last quarter. Golden State Wealth Management LLC grew 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 acquiring an additional 343 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of Omnicom Group by 194.6% during the 4th quarter. Whittier Trust Co. now owns 489 shares of the business services provider's stock valued at $42,000 after acquiring an additional 323 shares during the period. Hedge funds and other institutional investors own 91.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OMC. JPMorgan Chase & Co. dropped their price target on shares of Omnicom Group from $116.00 to $104.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays lowered Omnicom Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $105.00 to $80.00 in a research note on Wednesday, June 25th. UBS Group cut their target price on Omnicom Group from $117.00 to $104.00 and set a "buy" rating for the company in a research report on Thursday, March 20th. Citigroup reiterated a "buy" rating and set a $103.00 target price on shares of Omnicom Group in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company cut their target price on Omnicom Group from $99.00 to $84.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $96.43.

Omnicom Group Price Performance

OMC traded down $0.89 during trading hours on Monday, hitting $73.82. The company's stock had a trading volume of 3,895,532 shares, compared to its average volume of 2,613,151. Omnicom Group Inc. has a 12 month low of $68.37 and a 12 month high of $107.00. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 1.24. The business's 50-day moving average price is $73.55 and its 200-day moving average price is $78.90. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 1.65 and a beta of 0.92.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The business services provider reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.07. Omnicom Group had a net margin of 9.20% and a return on equity of 34.85%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. Sell-side analysts expect that Omnicom Group Inc. will post 8.25 earnings per share for the current fiscal year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Tuesday, June 10th. Omnicom Group's payout ratio is 38.30%.

Omnicom Group 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.