TD Asset Management Inc Has $24.54 Million Holdings in Omnicom Group Inc. (NYSE:OMC)

TD Asset Management Inc lessened its holdings in Omnicom Group Inc. (NYSE:OMC - Free Report) by 10.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 295,987 shares of the business services provider's stock after selling 35,393 shares during the period. TD Asset Management Inc owned about 0.15% of Omnicom Group worth $24,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Applied Finance Capital Management LLC grew its stake in Omnicom Group by 8.5% during the 1st quarter. Applied Finance Capital Management LLC now owns 5,123 shares of the business services provider's stock valued at $425,000 after purchasing an additional 403 shares in the last quarter. Mediolanum International Funds Ltd raised its holdings in Omnicom Group by 117.0% in the first quarter. Mediolanum International Funds Ltd now owns 31,488 shares of the business services provider's stock valued at $2,527,000 after acquiring an additional 16,980 shares in the last quarter. Robinson Value Management Ltd. boosted its stake in Omnicom Group by 0.4% during the 1st quarter. Robinson Value Management Ltd. now owns 34,217 shares of the business services provider's stock valued at $2,837,000 after acquiring an additional 139 shares during the last quarter. Pacer Advisors Inc. grew its stake in Omnicom Group by 17,506.1% in the first quarter. Pacer Advisors Inc. now owns 2,744,080 shares of the business services provider's stock worth $227,512,000 after purchasing an additional 2,728,494 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Omnicom Group by 1.4% in the first quarter. Assetmark Inc. now owns 546,158 shares of the business services provider's stock worth $45,282,000 after purchasing an additional 7,345 shares during the period. Institutional investors and hedge funds own 91.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on OMC shares. Citigroup reaffirmed a "buy" rating and set a $103.00 price objective on shares of Omnicom Group in a research report on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price target on Omnicom Group from $104.00 to $96.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company dropped their target price on Omnicom Group from $84.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 16th. Barclays downgraded shares of Omnicom Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $105.00 to $80.00 in a report on Wednesday, June 25th. Finally, Bank of America upgraded shares of Omnicom Group from an "underperform" rating to a "neutral" rating and set a $80.00 price target on the stock in a research note on Monday, June 23rd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Omnicom Group has an average rating of "Moderate Buy" and a consensus price target of $94.43.

Omnicom Group Price Performance

Shares of NYSE OMC traded down $0.94 during mid-day trading on Friday, reaching $71.11. 2,435,325 shares of the company traded hands, compared to its average volume of 4,472,830. Omnicom Group Inc. has a fifty-two week low of $68.37 and a fifty-two week high of $107.00. The firm has a market cap of $13.78 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. The stock has a fifty day simple moving average of $72.56 and a 200-day simple moving average of $77.32. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.92 and a quick ratio of 0.80.

Omnicom Group (NYSE:OMC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The business services provider reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.03. Omnicom Group had a return on equity of 33.62% and a net margin of 8.67%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the firm earned $1.95 EPS. The company's quarterly revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Omnicom Group's payout ratio is 40.17%.

About Omnicom Group

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.