TD Waterhouse Canada Inc. Sells 94,597 Shares of Omnicom Group Inc. $OMC

TD Waterhouse Canada Inc. decreased its holdings in shares of Omnicom Group Inc. (NYSE:OMC) by 42.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,880 shares of the business services provider’s stock after selling 94,597 shares during the period. TD Waterhouse Canada Inc.’s holdings in Omnicom Group were worth $9,737,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Omnicom Group during the second quarter worth approximately $2,082,476,000. Bank of New York Mellon Corp acquired a new position in Omnicom Group in the second quarter worth $914,156,000. State Street Corp boosted its stake in Omnicom Group by 40.4% in the fourth quarter. State Street Corp now owns 23,676,768 shares of the business services provider’s stock worth $1,933,891,000 after purchasing an additional 6,813,441 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Omnicom Group by 522.9% during the fourth quarter. Wellington Management Group LLP now owns 5,199,477 shares of the business services provider’s stock worth $419,858,000 after purchasing an additional 4,364,797 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Omnicom Group by 57.1% during the fourth quarter. Geode Capital Management LLC now owns 8,578,075 shares of the business services provider’s stock worth $690,327,000 after purchasing an additional 3,117,188 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OMC shares. Rothschild & Co Redburn began coverage on shares of Omnicom Group in a research report on Thursday, May 28th. They set a “neutral” rating and a $89.00 price target on the stock. Citigroup dropped their target price on shares of Omnicom Group from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of Omnicom Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their price target on shares of Omnicom Group from $91.00 to $93.00 and gave the company an “overweight” rating in a report on Thursday, July 30th. Finally, Zacks Research cut shares of Omnicom Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $99.00.

Omnicom Group Trading Down 2.6%

NYSE OMC opened at $82.49 on Friday. Omnicom Group Inc. has a 12 month low of $66.33 and a 12 month high of $89.57. The stock has a 50-day simple moving average of $82.83 and a 200 day simple moving average of $78.70. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $22.63 billion, a PE ratio of 71.11, a P/E/G ratio of 0.71 and a beta of 0.65.

Omnicom Group (NYSE:OMC) last issued its earnings results on Tuesday, July 28th. The business services provider reported $2.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.02). The company had revenue of $6.56 billion for the quarter, compared to the consensus estimate of $6.44 billion. Omnicom Group had a return on equity of 24.73% and a net margin of 1.74%.Omnicom Group’s quarterly revenue was up 63.4% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. Research analysts forecast that Omnicom Group Inc. will post 10.35 EPS for the current year.

Omnicom Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.9%. Omnicom Group’s dividend payout ratio (DPR) is currently 275.86%.

Insiders Place Their Bets

In other news, Director Linda Rice sold 1,385 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.73, for a total value of $122,891.05. Following the completion of the transaction, the director owned 11,719 shares in the company, valued at $1,039,826.87. This represents a 10.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

Omnicom Group Company 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.