Toronto Dominion Bank increased its position in shares of Omnicom Group Inc. (NYSE:OMC) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,586 shares of the business services provider’s stock after buying an additional 1,153 shares during the period. Toronto Dominion Bank owned 0.09% of Omnicom Group worth $16,202,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Omnicom Group by 3.8% during the 1st quarter. BlackRock Inc. now owns 19,342,541 shares of the business services provider’s stock valued at $1,434,248,000 after purchasing an additional 702,552 shares during the last quarter. Geode Capital Management LLC raised its stake in Omnicom Group by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 4,237,846 shares of the business services provider’s stock valued at $313,657,000 after purchasing an additional 274,438 shares during the last quarter. Amundi Asset Management US Inc. raised its stake in Omnicom Group by 6.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 3,150,747 shares of the business services provider’s stock valued at $233,638,000 after purchasing an additional 178,572 shares during the last quarter. Schroder Investment Management Group raised its stake in Omnicom Group by 26.8% during the 1st quarter. Schroder Investment Management Group now owns 1,915,767 shares of the business services provider’s stock valued at $142,054,000 after purchasing an additional 405,250 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Omnicom Group by 9.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,823,712 shares of the business services provider’s stock valued at $135,246,000 after purchasing an additional 162,620 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Omnicom Group from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Thursday, July 22nd. Morgan Stanley dropped their price objective on shares of Omnicom Group from $79.00 to $76.00 and set an “underweight” rating for the company in a research note on Wednesday, July 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Omnicom Group has an average rating of “Hold” and a consensus price target of $76.50.
Omnicom Group (NYSE:OMC) last announced its earnings results on Monday, July 19th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Omnicom Group had a net margin of 9.65% and a return on equity of 35.92%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. On average, equities analysts anticipate that Omnicom Group Inc. will post 6.14 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 12th. Investors of record on Tuesday, September 21st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Monday, September 20th. Omnicom Group’s dividend payout ratio (DPR) is currently 55.45%.
About Omnicom Group
Omnicom Group, Inc is a holding company, which engages in the management and provision of advertising agencies. The firm offers marketing and corporate communications services. Its agency networks operates in the advertising, marketing, and corporate communications services industry, which are organized into regions, such as the Americas, EMEA and Asia-Pacific.
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