Toronto Dominion Bank Increases Position in Omnicom Group Inc. (OMC)

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Toronto Dominion Bank lifted its holdings in Omnicom Group Inc. (NYSE:OMC) by 25.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,641 shares of the business services provider’s stock after purchasing an additional 39,602 shares during the period. Toronto Dominion Bank owned approximately 0.09% of Omnicom Group worth $14,844,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of Omnicom Group by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,805,272 shares of the business services provider’s stock valued at $1,358,007,000 after purchasing an additional 427,284 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Omnicom Group by 0.7% in the first quarter. First Eagle Investment Management LLC now owns 15,623,070 shares of the business services provider’s stock valued at $1,135,328,000 after purchasing an additional 104,730 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Omnicom Group by 3.5% in the first quarter. Pzena Investment Management LLC now owns 7,924,253 shares of the business services provider’s stock valued at $575,855,000 after purchasing an additional 270,698 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in shares of Omnicom Group by 2.1% in the first quarter. Fiduciary Management Inc. WI now owns 5,204,081 shares of the business services provider’s stock valued at $378,181,000 after purchasing an additional 105,669 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of Omnicom Group by 30.2% in the first quarter. Schroder Investment Management Group now owns 3,252,664 shares of the business services provider’s stock valued at $236,371,000 after purchasing an additional 753,845 shares in the last quarter.

A number of research analysts recently weighed in on OMC shares. Royal Bank of Canada dropped their price objective on shares of Omnicom Group to $75.00 and set a “$70.60” rating for the company in a report on Wednesday, July 18th. BMO Capital Markets reiterated a “buy” rating and issued a $85.00 price target on shares of Omnicom Group in a research note on Thursday, July 19th. Argus downgraded shares of Omnicom Group from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. ValuEngine upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Zacks Investment Research upgraded shares of Omnicom Group from a “sell” rating to a “hold” rating in a research note on Friday, July 6th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Omnicom Group has an average rating of “Hold” and an average price target of $78.08.

Shares of Omnicom Group stock opened at $68.59 on Friday. Omnicom Group Inc. has a 52-week low of $65.32 and a 52-week high of $83.34. The company has a quick ratio of 0.78, a current ratio of 0.89 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $15.22 billion, a P/E ratio of 13.45, a PEG ratio of 2.17 and a beta of 1.10.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, July 17th. The business services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.88 billion. Omnicom Group had a net margin of 7.45% and a return on equity of 40.82%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. equities research analysts anticipate that Omnicom Group Inc. will post 5.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Stockholders of record on Friday, September 21st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.50%. Omnicom Group’s dividend payout ratio is presently 47.06%.

In other news, Director Linda Johnson Rice sold 475 shares of the business’s stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $70.02, for a total transaction of $33,259.50. Following the completion of the sale, the director now owns 7,966 shares in the company, valued at approximately $557,779.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,075 shares of company stock valued at $74,289 in the last 90 days. Insiders own 1.20% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. The company offers a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. Its services comprises advertising, branding, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and instore design services.

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Institutional Ownership by Quarter for Omnicom Group (NYSE:OMC)

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