Central Pacific Bank Trust Division Has $295,000 Stake in Omnicom Group Inc. (NYSE:OMC)

Central Pacific Bank Trust Division raised its stake in shares of Omnicom Group Inc. (NYSE:OMC) by 16.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,856 shares of the business services provider’s stock after purchasing an additional 401 shares during the period. Central Pacific Bank Trust Division’s holdings in Omnicom Group were worth $295,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in OMC. Richardson Financial Services Inc. bought a new position in shares of Omnicom Group during the 4th quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. Innealta Capital LLC bought a new position in shares of Omnicom Group during the 2nd quarter worth approximately $33,000. Davis Capital Management bought a new position in shares of Omnicom Group during the 3rd quarter worth approximately $36,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Omnicom Group during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Stock Down 1.0 %

Shares of NYSE:OMC opened at $101.02 on Friday. Omnicom Group Inc. has a 52-week low of $72.20 and a 52-week high of $104.80. The firm has a fifty day moving average of $98.28 and a 200 day moving average of $94.62. The firm has a market capitalization of $19.78 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.81 and a current ratio of 0.93.

Omnicom Group (NYSE:OMC) last announced its earnings results on Tuesday, July 16th. The business services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. Omnicom Group had a net margin of 9.55% and a return on equity of 37.51%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the business earned $1.81 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts anticipate that Omnicom Group Inc. will post 7.88 EPS for the current fiscal year.

Omnicom Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $2.80 annualized dividend and a yield of 2.77%. Omnicom Group’s dividend payout ratio (DPR) is presently 37.84%.

Analyst Ratings Changes

Several equities analysts have commented on OMC shares. Macquarie reissued an “outperform” rating and set a $110.00 target price on shares of Omnicom Group in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of Omnicom Group from $106.00 to $118.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group lifted their price target on shares of Omnicom Group from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Bank of America lifted their price target on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. 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 stock. According to MarketBeat, Omnicom Group has an average rating of “Moderate Buy” and an average target price of $107.30.

Insiders Place Their Bets

In other Omnicom Group news, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Omnicom Group news, Director Linda Johnson Rice sold 488 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $90.88, for a total value of $44,349.44. Following the completion of the sale, the director now directly owns 10,356 shares of the company’s stock, valued at $941,153.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $99.17, for a total transaction of $297,510.00. Following the completion of the sale, the vice president now directly owns 15,375 shares of the company’s stock, valued at $1,524,738.75. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Omnicom Group 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.