OM Asset Management PLC (NYSE:OMAM) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, July 25th.
A number of other research firms have also recently weighed in on OMAM. Royal Bank Of Canada began coverage on shares of OM Asset Management PLC in a research note on Thursday, June 29th. They set an “outperform” rating and a $18.00 target price on the stock. Credit Suisse Group restated a “buy” rating and set a $19.00 target price on shares of OM Asset Management PLC in a research note on Friday, April 7th. Zacks Investment Research cut shares of OM Asset Management PLC from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Evercore ISI reiterated an “outperform” rating on shares of OM Asset Management PLC in a research note on Monday, April 3rd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of OM Asset Management PLC in a research note on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $17.50.
Shares of OM Asset Management PLC (NYSE OMAM) traded up 1.10% during midday trading on Tuesday, hitting $13.80. The company had a trading volume of 1,237,795 shares. OM Asset Management PLC has a 1-year low of $12.10 and a 1-year high of $16.01. The firm has a market capitalization of $1.54 billion, a P/E ratio of 17.36 and a beta of 1.71. The stock has a 50 day moving average price of $14.86 and a 200 day moving average price of $14.82.
OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 86.89%. The company had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $211.67 million. During the same quarter in the previous year, the company earned $0.30 EPS. OM Asset Management PLC’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, equities analysts anticipate that OM Asset Management PLC will post $1.54 EPS for the current fiscal year.
OM Asset Management PLC announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 15th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the asset manager to repurchase shares of its stock through a private placement purchase. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
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In other news, major shareholder Group (Uk) Ltd Om sold 22,300,000 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $14.55, for a total transaction of $324,465,000.00. Following the sale, the insider now directly owns 29,596,183 shares in the company, valued at approximately $430,624,462.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter L. Bain sold 273,885 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $14.21, for a total transaction of $3,891,905.85. Following the transaction, the chief executive officer now owns 596,862 shares in the company, valued at $8,481,409.02. The disclosure for this sale can be found here. Insiders have sold a total of 25,517,457 shares of company stock worth $371,114,118 over the last 90 days. Corporate insiders own 1.48% of the company’s stock.
A number of institutional investors have recently modified their holdings of OMAM. Guggenheim Capital LLC purchased a new position in shares of OM Asset Management PLC during the fourth quarter valued at approximately $166,000. Prudential Financial Inc. increased its position in shares of OM Asset Management PLC by 700.9% in the first quarter. Prudential Financial Inc. now owns 345,200 shares of the asset manager’s stock worth $5,219,000 after buying an additional 302,100 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of OM Asset Management PLC by 35.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 366,499 shares of the asset manager’s stock worth $5,314,000 after buying an additional 96,258 shares in the last quarter. Norges Bank bought a new position in shares of OM Asset Management PLC during the fourth quarter worth approximately $11,248,000. Finally, Wells Fargo & Company MN increased its position in shares of OM Asset Management PLC by 168.8% in the first quarter. Wells Fargo & Company MN now owns 831,340 shares of the asset manager’s stock worth $12,570,000 after buying an additional 522,089 shares in the last quarter. Institutional investors own 46.24% of the company’s stock.
About OM Asset Management PLC
OM Asset Management plc is a global, diversified, multi-boutique asset management company. As of December 31, 2016, the Company operated its business through its eight Affiliates, each of which operated autonomously and employed its own investment processes. Its Affiliates include Acadian Asset Management LLC; Barrow, Hanley, Mewhinney & Strauss, LLC; Campbell Global, LLC; Copper Rock Capital Partners LLC; Heitman LLC; Investment Counselors of Maryland, LLC; Landmark Partners, LLC, and Thompson, Siegel & Walmsley LLC.
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