Conning Inc. Has $35.60 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

Conning Inc. raised its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 19.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,422 shares of the business services provider’s stock after acquiring an additional 70,116 shares during the quarter. Omnicom Group makes up 1.2% of Conning Inc.’s investment portfolio, making the stock its 29th largest holding. Conning Inc.’s holdings in Omnicom Group were worth $35,603,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Versant Capital Management Inc grew its position in Omnicom Group by 45.7% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the business services provider’s stock worth $38,000 after purchasing an additional 143 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Omnicom Group by 13.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,228 shares of the business services provider’s stock worth $105,000 after acquiring an additional 147 shares during the period. MGO One Seven LLC grew its holdings in shares of Omnicom Group by 3.2% during the 4th quarter. MGO One Seven LLC now owns 5,075 shares of the business services provider’s stock worth $437,000 after purchasing an additional 157 shares in the last quarter. Mezzasalma Advisors LLC increased its position in shares of Omnicom Group by 3.1% during the first quarter. Mezzasalma Advisors LLC now owns 5,339 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 159 shares during the period. Finally, Center for Financial Planning Inc. raised its stake in shares of Omnicom Group by 2.2% in the first quarter. Center for Financial Planning Inc. now owns 9,168 shares of the business services provider’s stock valued at $760,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of OMC stock opened at $74.71 on Friday. Omnicom Group Inc. has a 52 week low of $68.37 and a 52 week high of $107.00. The stock has a market capitalization of $14.58 billion, a PE ratio of 10.22, a PEG ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.87 and a current ratio of 1.01. The stock’s fifty day moving average is $73.55 and its 200-day moving average is $79.12.

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

Omnicom Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 10th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Tuesday, June 10th. Omnicom Group’s dividend payout ratio is presently 38.30%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OMC shares. Barclays lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $105.00 to $80.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. cut their price objective on Omnicom Group from $116.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Citigroup reaffirmed a “buy” rating and issued a $103.00 target price on shares of Omnicom Group in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of 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. Finally, Bank of America raised shares of Omnicom Group from an “underperform” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.43.

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.