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

Conning Inc. lessened its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 408,356 shares of the business services provider’s stock after selling 15,172 shares during the period. Conning Inc.’s holdings in Omnicom Group were worth $32,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Activest Wealth Management boosted its holdings in Omnicom Group by 2,960.0% in the 4th quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock worth $25,000 after buying an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Omnicom Group during the fourth quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its position in shares of Omnicom Group by 2,126.7% in the third quarter. Cornerstone Planning Group LLC now owns 334 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 319 shares in the last quarter. Legacy Wealth Managment LLC ID boosted its stake in shares of Omnicom Group by 111.4% in the fourth quarter. Legacy Wealth Managment LLC ID now owns 334 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Omnicom Group in the fourth quarter worth approximately $32,000. 91.97% of the stock is owned by hedge funds and other institutional investors.

Omnicom Group Stock Performance

NYSE OMC opened at $71.68 on Friday. The stock’s fifty day moving average is $77.11 and its two-hundred day moving average is $76.62. The firm has a market capitalization of $20.43 billion, a P/E ratio of 183.80, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 0.91. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17.

Omnicom Group (NYSE:OMC) last issued its earnings results on Wednesday, April 29th. The business services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Omnicom Group had a return on equity of 24.48% and a net margin of 0.32%.The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $1.70 EPS. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts anticipate that Omnicom Group Inc. will post 10.97 earnings per share for the current year.

Omnicom Group declared that its board has authorized a stock repurchase plan on Wednesday, February 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 38.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Omnicom Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 10th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, June 10th. Omnicom Group’s dividend payout ratio (DPR) is presently 820.51%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group increased their price objective on Omnicom Group from $108.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Morgan Stanley upped their target price on shares of Omnicom Group from $82.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Citigroup reduced their target price on shares of Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Finally, Argus raised shares of Omnicom Group to a “hold” rating in a research note on Thursday, March 26th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Omnicom Group has a consensus rating of “Hold” and an average target price of $93.71.

Omnicom Group Company Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.