Conning Inc. Sells 17,685 Shares of Omnicom Group Inc. (NYSE:OMC)

Conning Inc. lessened its position in Omnicom Group Inc. (NYSE:OMC) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,306 shares of the business services provider’s stock after selling 17,685 shares during the period. Conning Inc.’s holdings in Omnicom Group were worth $30,915,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OMC. State Street Corp increased its stake in shares of Omnicom Group by 5.7% during the 3rd quarter. State Street Corp now owns 14,118,529 shares of the business services provider’s stock worth $1,468,615,000 after purchasing an additional 759,980 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of Omnicom Group by 4,413.3% during the 3rd quarter. World Investment Advisors LLC now owns 383,448 shares of the business services provider’s stock worth $39,645,000 after purchasing an additional 374,952 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Omnicom Group by 389,021.8% during the 3rd quarter. International Assets Investment Management LLC now owns 214,017 shares of the business services provider’s stock worth $22,127,000 after purchasing an additional 213,962 shares during the last quarter. Arvest Bank Trust Division acquired a new position in shares of Omnicom Group during the 3rd quarter worth about $21,191,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Omnicom Group by 46.0% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 495,511 shares of the business services provider’s stock worth $42,634,000 after purchasing an additional 156,173 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

NYSE OMC opened at $83.76 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $16.46 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.89 and a beta of 0.97. Omnicom Group Inc. has a 12-month low of $81.42 and a 12-month high of $107.00. The firm has a 50-day moving average price of $88.88 and a two-hundred day moving average price of $96.01.

Omnicom Group (NYSE:OMC) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.03. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. During the same period in the prior year, the company posted $2.20 earnings per share. Analysts anticipate that Omnicom Group Inc. will post 7.99 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 20th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Friday, December 20th. Omnicom Group’s dividend payout ratio is currently 37.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Omnicom Group from $119.00 to $116.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Macquarie reiterated an “outperform” rating and issued a $120.00 price target on shares of Omnicom Group in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 10th. Finally, Barclays decreased their price target on shares of Omnicom Group from $121.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six 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 a consensus target price of $108.25.

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.