Omnicom Group Inc. $OMC Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its holdings in Omnicom Group Inc. (NYSE:OMC) by 55.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 434,489 shares of the business services provider’s stock after purchasing an additional 154,710 shares during the quarter. TD Asset Management Inc’s holdings in Omnicom Group were worth $35,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in Omnicom Group by 2,960.0% in the fourth quarter. Activest Wealth Management now owns 306 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 296 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Omnicom Group in the fourth quarter valued at $26,000. Elyxium Wealth LLC acquired a new position in Omnicom Group in the fourth quarter valued at $26,000. Legacy Wealth Managment LLC ID increased its stake in 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 valued at $27,000 after purchasing an additional 176 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in Omnicom Group by 100.0% in the third quarter. Westside Investment Management Inc. now owns 404 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 202 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors and hedge funds.

Omnicom Group Stock Performance

Shares of NYSE:OMC opened at $75.28 on Friday. The firm has a market capitalization of $21.46 billion, a PE ratio of 193.03, a P/E/G ratio of 0.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.77. The business has a 50-day moving average of $75.45 and a two-hundred day moving average of $76.57. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $87.17.

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

Omnicom Group announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the business services provider to buy up to 38.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Omnicom Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.80 per share. The ex-dividend date is Wednesday, June 10th. This represents a $3.20 annualized dividend and a yield of 4.3%. Omnicom Group’s dividend payout ratio is currently 820.51%.

Analyst Ratings Changes

OMC has been the subject of several analyst reports. Barclays upped their target price on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. The Goldman Sachs Group initiated coverage on Omnicom Group in a research note on Wednesday. They issued a “buy” rating and a $146.00 target price for the company. Citigroup dropped their target price on Omnicom Group from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 30th. Rothschild & Co Redburn initiated coverage on Omnicom Group in a research note on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target for the company. Finally, UBS Group upped their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Omnicom Group presently has a consensus rating of “Hold” and a consensus price target of $99.00.

Omnicom Group 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.