Conning Inc. Grows Stock Position in Omnicom Group Inc. (NYSE:OMC)

Conning Inc. lifted its stake in Omnicom Group Inc. (NYSE:OMC) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 376,991 shares of the business services provider’s stock after buying an additional 14,284 shares during the quarter. Omnicom Group makes up 1.3% of Conning Inc.’s holdings, making the stock its 28th largest position. Conning Inc. owned about 0.19% of Omnicom Group worth $38,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new stake in Omnicom Group in the 3rd quarter worth approximately $33,000. Davis Capital Management acquired a new position in shares of Omnicom Group in the 3rd quarter valued at $36,000. Innealta Capital LLC acquired a new position in shares of Omnicom Group in the 2nd quarter valued at $33,000. HM Payson & Co. boosted its holdings in Omnicom Group by 84.5% during the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after buying an additional 169 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Omnicom Group during the second quarter valued at $33,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Omnicom Group Price Performance

Shares of NYSE OMC opened at $101.08 on Friday. The stock has a market capitalization of $19.72 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. Omnicom Group Inc. has a 52 week low of $74.41 and a 52 week high of $106.51. The firm has a 50-day simple moving average of $101.36 and a 200-day simple moving average of $95.91. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a net margin of 9.45% and a return on equity of 36.59%. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company posted $1.86 EPS. On average, equities analysts predict that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Macquarie increased their target price on shares of Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company cut Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $106.00 to $110.00 in a research report on Wednesday, October 16th. UBS Group lifted their price target on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price target on shares of Omnicom Group from $110.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $110.11.

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Andrew Castellaneta sold 4,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 23,545 shares in the company, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Rochelle M. Tarlowe sold 3,000 shares of Omnicom Group stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now owns 15,375 shares in the company, valued at $1,524,738.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.