BidaskClub downgraded shares of OM Asset Management PLC (NYSE:OMAM) from a sell rating to a strong sell rating in a research note published on Saturday, August 5th.
A number of other analysts also recently commented on the stock. Credit Suisse Group reiterated a buy rating and issued a $19.00 price objective on shares of OM Asset Management PLC in a report on Friday, April 7th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $17.50 price objective on shares of OM Asset Management PLC in a report on Friday, August 4th. Royal Bank Of Canada set a $18.00 price objective on shares of OM Asset Management PLC and gave the company a buy rating in a report on Thursday, August 3rd. ValuEngine upgraded shares of OM Asset Management PLC from a hold rating to a buy rating in a report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded shares of OM Asset Management PLC from a hold rating to a buy rating and set a $16.00 price objective for the company in a report on Tuesday, June 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. OM Asset Management PLC presently has an average rating of Buy and a consensus price target of $17.50.
Shares of OM Asset Management PLC (OMAM) traded up 0.60% during mid-day trading on Friday, hitting $13.34. The company’s stock had a trading volume of 370,087 shares. The stock’s 50 day moving average price is $14.66 and its 200 day moving average price is $14.79. OM Asset Management PLC has a 52-week low of $12.10 and a 52-week high of $16.01. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 16.86 and a beta of 1.71.
OM Asset Management PLC (NYSE:OMAM) last released its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 95.51%. The firm had revenue of $218.80 million during the quarter, compared to the consensus estimate of $211.67 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. Equities analysts forecast that OM Asset Management PLC will post $1.54 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.70%. OM Asset Management PLC’s payout ratio is currently 45.57%.
OM Asset Management PLC declared that its board has authorized a share buyback program on Monday, May 15th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the asset manager to buy shares of its stock through a private placement purchase. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other OM Asset Management PLC news, CEO Peter L. Bain sold 273,885 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $14.21, for a total value of $3,891,905.85. Following the completion of the transaction, the chief executive officer now owns 596,862 shares of the company’s stock, valued at approximately $8,481,409.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $14.55, for a total transaction of $37,757,250.00. Following the completion of the transaction, the insider now directly owns 22,001,183 shares of the company’s stock, valued at approximately $320,117,212.65. The disclosure for this sale can be found here. Insiders have sold a total of 3,315,602 shares of company stock valued at $47,986,834 in the last ninety days. 1.48% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. boosted its position in shares of OM Asset Management PLC by 7.3% in the first quarter. Sei Investments Co. now owns 83,032 shares of the asset manager’s stock valued at $1,256,000 after buying an additional 5,639 shares in the last quarter. Affinity Investment Advisors LLC acquired a new position in shares of OM Asset Management PLC during the first quarter valued at approximately $433,000. Bank of New York Mellon Corp boosted its position in shares of OM Asset Management PLC by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 195,647 shares of the asset manager’s stock valued at $2,959,000 after buying an additional 9,618 shares in the last quarter. Bowling Portfolio Management LLC raised its stake in shares of OM Asset Management PLC by 32.5% in the first quarter. Bowling Portfolio Management LLC now owns 52,288 shares of the asset manager’s stock worth $791,000 after buying an additional 12,828 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake 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 during the last quarter. 47.94% of the stock is owned by institutional investors.
OM Asset Management PLC Company Profile
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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