Strycker View Capital LLC acquired a new stake in OM Asset Management PLC (NYSE:OMAM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 167,319 shares of the asset manager’s stock, valued at approximately $2,486,000. OM Asset Management PLC accounts for about 1.2% of Strycker View Capital LLC’s investment portfolio, making the stock its 16th largest position. Strycker View Capital LLC owned about 0.15% of OM Asset Management PLC as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in OMAM. Norges Bank acquired a new position in shares of OM Asset Management PLC during the fourth quarter valued at approximately $11,248,000. Globeflex Capital L P acquired a new position in shares of OM Asset Management PLC during the first quarter valued at approximately $9,845,000. 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 valued at $12,570,000 after buying an additional 522,089 shares during the period. JPMorgan Chase & Co. increased its position in shares of OM Asset Management PLC by 298.7% in the first quarter. JPMorgan Chase & Co. now owns 502,722 shares of the asset manager’s stock valued at $7,601,000 after buying an additional 376,637 shares during the period. Finally, 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 valued at $5,219,000 after buying an additional 302,100 shares during the period. 47.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OM Asset Management PLC (NYSE OMAM) traded up 0.60% on Friday, hitting $13.34. The stock had a trading volume of 370,087 shares. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 16.86 and a beta of 1.71. The stock has a 50 day moving average price of $14.66 and a 200-day moving average price of $14.79. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01.
OM Asset Management PLC (NYSE:OMAM) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $218.80 million during the quarter, compared to analyst estimates of $211.67 million. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 95.51%. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. On average, equities analysts expect that OM Asset Management PLC will post $1.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, September 14th. OM Asset Management PLC’s payout ratio is presently 45.57%.
OM Asset Management PLC announced that its board has authorized a share buyback plan on Monday, May 15th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the asset manager to buy shares of its stock through a private placement purchase. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
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OMAM has been the topic of a number of recent research reports. Royal Bank Of Canada initiated coverage on OM Asset Management PLC in a research note on Thursday, June 29th. They set an “outperform” rating and a $18.00 price objective for the company. Wells Fargo & Company upgraded OM Asset Management PLC from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a research note on Monday, June 5th. BidaskClub upgraded OM Asset Management PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. ValuEngine upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, Zacks Investment Research cut OM Asset Management PLC from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. OM Asset Management PLC presently has an average rating of “Buy” and a consensus target price of $17.50.
In other news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 22,001,183 shares in the company, valued at approximately $320,117,212.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter L. Bain sold 273,885 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was 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 approximately $8,481,409.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,315,602 shares of company stock valued at $47,986,834. 1.48% of the stock is owned by company insiders.
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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