Conning Inc. Buys 14,284 Shares of Omnicom Group Inc. (NYSE:OMC)

Conning Inc. boosted its stake in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 3.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 376,991 shares of the business services provider's stock after buying an additional 14,284 shares during the quarter. Omnicom Group accounts for approximately 1.3% of Conning Inc.'s portfolio, making the stock its 28th largest holding. Conning Inc. owned 0.19% of Omnicom Group worth $38,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in Omnicom Group by 2.1% during the third quarter. Farther Finance Advisors LLC now owns 4,970 shares of the business services provider's stock worth $514,000 after purchasing an additional 102 shares during the period. Principal Securities Inc. grew its holdings in Omnicom Group by 11.7% during the 3rd quarter. Principal Securities Inc. now owns 26,993 shares of the business services provider's stock worth $2,791,000 after acquiring an additional 2,823 shares in the last quarter. Cigna Investments Inc. New acquired a new position in Omnicom Group during the 3rd quarter worth $209,000. HM Payson & Co. lifted its position in shares of Omnicom Group by 84.5% in the 3rd quarter. HM Payson & Co. now owns 369 shares of the business services provider's stock worth $38,000 after buying an additional 169 shares during the last quarter. Finally, Nikulski Financial Inc. bought a new position in shares of Omnicom Group in the 3rd quarter worth about $225,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 sale, the chief accounting officer now owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 sale, the chief accounting officer now owns 23,545 shares of the company's stock, valued at approximately $2,479,053.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction that occurred 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 directly owns 15,375 shares of the company's stock, valued at approximately $1,524,738.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

OMC has been the topic of several recent research reports. Barclays lifted their price objective on shares of Omnicom Group from $110.00 to $121.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Macquarie lifted their price objective 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. Bank of America lifted their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an "underperform" rating in a research report on Thursday, September 5th. UBS Group boosted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a "buy" rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.11.

Omnicom Group Stock Up 0.1 %

NYSE OMC traded up $0.08 during trading hours on Friday, reaching $101.08. 1,070,837 shares of the company's stock were exchanged, compared to its average volume of 1,391,450. The company's 50-day moving average is $101.36 and its two-hundred day moving average is $95.93. Omnicom Group Inc. has a one year low of $74.41 and a one year high of $106.51. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.86 and a current ratio of 0.98. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95.

Omnicom Group (NYSE:OMC - Get Free Report) last released its quarterly 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 return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. On average, analysts forecast that Omnicom Group Inc. will post 7.92 EPS for the current fiscal year.

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.