Omnicom Group Inc. (NYSE:OMC) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. raised its position in Omnicom Group Inc. (NYSE:OMC) by 94.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,635 shares of the business services provider’s stock after buying an additional 192,411 shares during the period. TD Asset Management Inc.’s holdings in Omnicom Group were worth $32,881,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Omnicom Group by 3,091.8% in the first quarter. BlackRock Inc. now owns 17,041,057 shares of the business services provider’s stock worth $1,469,108,000 after buying an additional 16,507,161 shares during the period. Beutel Goodman & Co Ltd. acquired a new position in shares of Omnicom Group during the second quarter worth approximately $153,358,000. Morgan Stanley raised its position in shares of Omnicom Group by 268.1% in the first quarter. Morgan Stanley now owns 1,639,312 shares of the business services provider’s stock worth $141,325,000 after buying an additional 1,194,001 shares during the period. WINTON GROUP Ltd raised its position in shares of Omnicom Group by 769.0% in the first quarter. WINTON GROUP Ltd now owns 710,764 shares of the business services provider’s stock worth $60,415,000 after buying an additional 628,969 shares during the period. Finally, Epoch Investment Partners Inc. acquired a new position in shares of Omnicom Group during the first quarter worth approximately $47,259,000. Institutional investors own 98.68% of the company’s stock.
Omnicom Group Inc. (NYSE:OMC) opened at 77.93 on Friday. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 15.74 and a beta of 1.25. The company has a 50 day moving average price of $80.89 and a 200-day moving average price of $83.46. Omnicom Group Inc. has a 52 week low of $77.50 and a 52 week high of $89.66.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.02. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Omnicom Group had a return on equity of 42.54% and a net margin of 7.61%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. Equities analysts predict that Omnicom Group Inc. will post $5.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Investors of record on Friday, September 22nd will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.20 annualized dividend and a yield of 2.82%. Omnicom Group’s payout ratio is currently 44.44%.
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A number of research analysts have recently commented on OMC shares. Evercore ISI started coverage on Omnicom Group in a report on Monday, April 17th. They set an “in-line” rating and a $91.00 price target for the company. They noted that the move was a valuation call. Wedbush cut their price target on Omnicom Group from $90.00 to $89.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. Credit Suisse Group reiterated a “neutral” rating and set a $79.00 price target (down from $81.00) on shares of Omnicom Group in a report on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and set a $82.00 price target on shares of Omnicom Group in a report on Friday, July 14th. Finally, Zacks Investment Research lowered Omnicom Group from a “hold” rating to a “sell” rating in a report on Friday, April 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $86.00.
In related news, Chairman Bruce Crawford sold 22,800 shares of Omnicom Group stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $84.91, for a total transaction of $1,935,948.00. Following the completion of the sale, the chairman now directly owns 105,250 shares of the company’s stock, valued at approximately $8,936,777.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Linda Johnson Rice sold 483 shares of Omnicom Group stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $82.19, for a total value of $39,697.77. Following the sale, the director now directly owns 7,724 shares of the company’s stock, valued at $634,835.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,183 shares of company stock valued at $2,046,845. 1.10% of the stock is currently owned by insiders.
About Omnicom Group
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 all 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.
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