Toronto Dominion Bank Buys 9,075 Shares of Omnicom Group Inc. (NYSE:OMC)

Toronto Dominion Bank grew its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 11.8% during the third quarter, HoldingsChannel reports. The firm owned 85,961 shares of the business services provider’s stock after purchasing an additional 9,075 shares during the quarter. Toronto Dominion Bank’s holdings in Omnicom Group were worth $8,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Omnicom Group during the 3rd quarter valued at approximately $33,000. Davis Capital Management bought a new stake in shares of Omnicom Group during the third quarter valued at approximately $36,000. Innealta Capital LLC bought a new stake in shares of Omnicom Group during the second quarter valued at approximately $33,000. HM Payson & Co. grew its stake in Omnicom Group by 84.5% in the third quarter. HM Payson & Co. now owns 369 shares of the business services provider’s stock worth $38,000 after purchasing an additional 169 shares during the period. Finally, Brooklyn Investment Group bought a new position in Omnicom Group in the third quarter worth $55,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Omnicom Group from $110.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Omnicom Group in a report on Wednesday. UBS Group lifted their target price on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Bank of America lifted their price objective on Omnicom Group from $87.00 to $89.00 and gave the company an “underperform” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.89.

Omnicom Group Stock Performance

OMC stock opened at $90.32 on Friday. The stock’s 50 day simple moving average is $101.58 and its 200 day simple moving average is $97.20. The company has a current ratio of 0.98, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Omnicom Group Inc. has a 12-month low of $83.65 and a 12-month high of $107.00. The stock has a market capitalization of $17.62 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings results on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.01. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. As a group, research analysts forecast that Omnicom Group Inc. will post 7.92 earnings per share for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.10%. Omnicom Group’s dividend payout ratio is presently 38.25%.

Insider Activity

In related news, CAO Andrew Castellaneta sold 4,000 shares of Omnicom Group stock in a transaction on Friday, October 18th. The stock was sold at an average price of $105.29, for a total value of $421,160.00. Following the completion of the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by corporate insiders.

Omnicom Group Company Profile

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.