Conning Lowers stake in Omnicom Group (OMC)

Omnicom Group (OMC) : Conning reduced its stake in Omnicom Group by 3.86% during the most recent quarter end. The investment management company now holds a total of 268,586 shares of Omnicom Group which is valued at $22,120,743 after selling 10,788 shares in Omnicom Group , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Omnicom Group makes up approximately 0.92% of Conning’s portfolio.

Other Hedge Funds, Including , Jensen Investment Management Inc reduced its stake in OMC by selling 37,156 shares or 1.16% in the most recent quarter. The Hedge Fund company now holds 3,153,771 shares of OMC which is valued at $259,744,580. Omnicom Group makes up approx 3.92% of Jensen Investment Management Inc’s portfolio.Msi Financial Services Inc boosted its stake in OMC in the latest quarter, The investment management firm added 772 additional shares and now holds a total of 2,972 shares of Omnicom Group which is valued at $244,774. Omnicom Group makes up approx 0.01% of Msi Financial Services Inc’s portfolio.Hartford Investment Management Co reduced its stake in OMC by selling 802 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 58,711 shares of OMC which is valued at $4,853,638. Omnicom Group makes up approx 0.10% of Hartford Investment Management Co’s portfolio.Palisade Asset Management reduced its stake in OMC by selling 1,150 shares or 1.08% in the most recent quarter. The Hedge Fund company now holds 105,403 shares of OMC which is valued at $8,955,039. Omnicom Group makes up approx 1.67% of Palisade Asset Management’s portfolio.

Omnicom Group closed down -0.42 points or -0.51% at $82.29 with 11,13,030 shares getting traded on Friday. Post opening the session at $82.47, the shares hit an intraday low of $81.85 and an intraday high of $82.6 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Omnicom Group reported $1.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $1.33. The company had revenue of $3884.90 million for the quarter, compared to analysts expectations of $3906.11 million. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.

Investors should note that on Jul 14, 2016, Omnicom Group announced a cash dividend of $0.5500. The company’s management has announced Sep 20, 2016 as the ex-dividend date and fixed the record date on Sep 22, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on Omnicom Group. Company shares were Reiterated by Telsey Advisory Group on Jul 20, 2016 to “Market Perform”, Firm has raised the Price Target to $ 86 from a previous price target of $79 .

Omnicom Group Inc. is a holding company. The Company provides advertising marketing and corporate communications services. The Company’s branded networks and agencies operate in markets around the world and provide a range of services which it groups into four disciplines: advertising customer relationship management (CRM) public relations and specialty communications. Its services in these disciplines include advertising brand consultancy content marketing corporate social responsibility consulting crisis communications data analytics and database management among others. Its advertising brands include BBDO Worldwide DDB Worldwide and TBWA Worldwide. The Company’s branded agency networks operate in geographic regions including the Americas which includes North America and Latin America; EMEA which includes Europe the Middle East and Africa and Asia Pacific which includes Australia China India Japan Korea New Zealand Singapore and other Asian countries.

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