First Hawaiian Bank Grows Stake in Omnicom Group Inc. (NYSE:OMC)

First Hawaiian Bank raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 17.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,066 shares of the business services provider’s stock after purchasing an additional 591 shares during the period. First Hawaiian Bank’s holdings in Omnicom Group were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in OMC. Kestra Advisory Services LLC grew its holdings in Omnicom Group by 4.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 9,163 shares of the business services provider’s stock worth $682,000 after acquiring an additional 410 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Omnicom Group by 9.8% during the third quarter. Rafferty Asset Management LLC now owns 14,718 shares of the business services provider’s stock valued at $1,096,000 after purchasing an additional 1,310 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Omnicom Group during the third quarter valued at approximately $1,212,000. FMR LLC raised its stake in Omnicom Group by 10.0% in the third quarter. FMR LLC now owns 1,056,065 shares of the business services provider’s stock worth $78,656,000 after buying an additional 96,082 shares in the last quarter. Finally, Rathbones Group PLC purchased a new stake in Omnicom Group during the third quarter worth $259,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OMC has been the topic of a number of analyst reports. Moffett Nathanson lifted their price target on Omnicom Group from $89.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. JPMorgan Chase & Co. boosted their target price on shares of Omnicom Group from $104.00 to $108.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. BNP Paribas upgraded shares of Omnicom Group from a “neutral” rating to an “outperform” rating and set a $115.00 price target on the stock in a report on Thursday, March 28th. Wells Fargo & Company upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $91.00 to $106.00 in a research note on Wednesday, April 17th. Finally, Barclays upgraded shares of Omnicom Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $100.00 to $110.00 in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.40.

Insider Buying and Selling at Omnicom Group

In related news, Director Linda Johnson Rice sold 453 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $92.68, for a total transaction of $41,984.04. Following the completion of the transaction, the director now owns 9,830 shares of the company’s stock, valued at $911,044.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Omnicom Group Price Performance

NYSE OMC opened at $90.47 on Friday. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.93 and a quick ratio of 0.81. The stock’s fifty day moving average price is $93.06 and its 200 day moving average price is $90.60. Omnicom Group Inc. has a 1 year low of $72.20 and a 1 year high of $99.23.

Omnicom Group (NYSE:OMC) last announced its quarterly earnings data on Tuesday, April 16th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.15. Omnicom Group had a return on equity of 38.23% and a net margin of 9.96%. The business had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.58 billion. As a group, equities research analysts forecast that Omnicom Group Inc. will post 7.84 earnings per share for the current year.

Omnicom Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Monday, June 10th. Omnicom Group’s dividend payout ratio is presently 37.84%.

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.