TD Asset Management Inc Boosts Position in Omnicom Group Inc. $OMC

Key Points

• TD Asset Management increased its Omnicom Group stake by 55.3% in the fourth quarter, buying 154,710 additional shares and ending with 434,489 shares valued at about $35.1 million.
• Omnicom recently beat quarterly expectations, reporting $1.90 EPS on $6.24 billion in revenue versus estimates of $1.84 EPS and $5.85 billion in revenue.
• The company declared a $0.80 quarterly dividend and has a $5 billion share repurchase authorization in place, while Wall Street’s overall view remains Hold with a consensus target price of $99.

TD Asset Management Inc boosted its position in shares of Omnicom Group Inc. (NYSE:OMC - Free Report) by 55.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 owned approximately 0.23% of Omnicom Group worth $35,085,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OMC. EverSource Wealth Advisors LLC boosted its position in Omnicom Group by 82.9% during the second quarter. EverSource Wealth Advisors LLC now owns 1,917 shares of the business services provider's stock worth $138,000 after purchasing an additional 869 shares in the last quarter. Gamco Investors INC. ET AL purchased a new stake in Omnicom Group during the second quarter worth $241,000. Gabelli Funds LLC purchased a new stake in Omnicom Group during the second quarter worth $1,061,000. Daiwa Securities Group Inc. boosted its position in Omnicom Group by 5.3% during the second quarter. Daiwa Securities Group Inc. now owns 29,373 shares of the business services provider's stock worth $2,113,000 after purchasing an additional 1,482 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Omnicom Group by 14.1% during the second quarter. Sei Investments Co. now owns 361,266 shares of the business services provider's stock worth $25,990,000 after purchasing an additional 44,746 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley boosted their target price on Omnicom Group from $82.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Rothschild & Co Redburn assumed coverage on Omnicom Group in a research report on Thursday, May 28th. They set a "neutral" rating and a $89.00 target price on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Omnicom Group in a research report on Friday, May 22nd. Argus upgraded Omnicom Group to a "hold" rating in a research report on Thursday, March 26th. Finally, Barclays boosted their price target on Omnicom Group from $82.00 to $90.00 and gave the stock an "equal weight" rating in a report on Monday, February 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $99.00.

Omnicom Group Stock Performance

NYSE OMC opened at $75.28 on Friday. Omnicom Group Inc. has a fifty-two week low of $66.33 and a fifty-two week high of $87.17. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of 193.03, a price-to-earnings-growth ratio of 0.45 and a beta of 0.63. The business has a fifty day moving average of $75.45 and a 200-day moving average of $76.57. The company has a quick ratio of 0.77, a current ratio of 0.91 and a debt-to-equity ratio of 0.99.

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

Omnicom Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 10th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, June 10th. Omnicom Group's payout ratio is 820.51%.

Omnicom Group declared that its board has authorized a share 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 repurchase up to 38.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.

Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.