TD Asset Management Inc. grew its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,361,387 shares of the business services provider’s stock after buying an additional 10,969 shares during the period. TD Asset Management Inc. owned 0.63% of Omnicom Group worth $111,566,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Clark Capital Management Group Inc. purchased a new position in shares of Omnicom Group during the second quarter valued at approximately $17,298,000. New York State Teachers Retirement System increased its stake in shares of Omnicom Group by 4.3% during the first quarter. New York State Teachers Retirement System now owns 299,676 shares of the business services provider’s stock valued at $21,873,000 after buying an additional 12,474 shares during the period. Ontario Teachers Pension Plan Board boosted its position in shares of Omnicom Group by 161.8% during the first quarter. Ontario Teachers Pension Plan Board now owns 121,018 shares of the business services provider’s stock valued at $8,833,000 after purchasing an additional 74,784 shares in the last quarter. Keybank National Association OH boosted its position in shares of Omnicom Group by 15.9% during the first quarter. Keybank National Association OH now owns 26,849 shares of the business services provider’s stock valued at $1,960,000 after purchasing an additional 3,687 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in shares of Omnicom Group by 10.7% during the first quarter. IFM Investors Pty Ltd now owns 14,522 shares of the business services provider’s stock valued at $1,060,000 after purchasing an additional 1,398 shares in the last quarter.
In other Omnicom Group news, Chairman John Wren sold 60,541 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $79.84, for a total value of $4,833,593.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew Castellaneta sold 2,000 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $80.16, for a total value of $160,320.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Omnicom Group (NYSE:OMC) last released its quarterly earnings results on Wednesday, July 17th. The business services provider reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.07. Omnicom Group had a return on equity of 43.86% and a net margin of 8.89%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Omnicom Group Inc. will post 6.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, September 20th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $2.60 annualized dividend and a dividend yield of 3.41%. Omnicom Group’s dividend payout ratio is presently 45.22%.
Several equities research analysts recently weighed in on the company. Barclays restated a “hold” rating and set a $85.00 price target on shares of Omnicom Group in a research report on Sunday, July 21st. BMO Capital Markets lowered Omnicom Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $88.00 to $86.00 in a research report on Sunday, July 14th. Finally, ValuEngine lowered Omnicom Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $80.33.
About Omnicom Group
Omnicom Group Inc, together with its subsidiaries, provides advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising, customer relationship management, public relations, and healthcare. The company's services include advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, graphic arts/digital imaging, healthcare marketing and communications, and in-store design services.
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