OM Asset Management PLC (OMAM) Upgraded to “Strong-Buy” at Zacks Investment Research
OM Asset Management PLC (NYSE:OMAM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $16.00 target price on the stock. Zacks Investment Research’s target price indicates a potential upside of 15.52% from the stock’s previous close.
According to Zacks, “OM Asset Management plc operates as a multi-boutique asset management company. It provides its services to individuals and institutions. The Company offers products in domestic and international equities, fixed income, and alternative investments, such as timber and real estate. OM Asset Management plc is based Boston, Massachusetts. “
OMAM has been the subject of several other research reports. TheStreet upgraded shares of OM Asset Management PLC from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. Credit Suisse Group AG reiterated a “buy” rating on shares of OM Asset Management PLC in a research report on Wednesday, August 31st. Morgan Stanley reiterated a “hold” rating on shares of OM Asset Management PLC in a research report on Wednesday, June 15th. Citigroup Inc. restated a “buy” rating on shares of OM Asset Management PLC in a report on Saturday, July 2nd. Finally, Keefe, Bruyette & Woods set a $17.50 price objective on shares of OM Asset Management PLC and gave the company a “buy” rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $17.21.
OM Asset Management PLC (NYSE:OMAM) opened at 13.85 on Wednesday. The company has a market cap of $1.66 billion, a P/E ratio of 12.00 and a beta of 1.86. OM Asset Management PLC has a 12-month low of $10.27 and a 12-month high of $17.04. The stock’s 50 day moving average is $13.46 and its 200-day moving average is $13.69.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. OM Asset Management PLC had a net margin of 22.02% and a return on equity of 87.34%. The company earned $156.50 million during the quarter, compared to analysts’ expectations of $162.22 million. During the same quarter in the previous year, the company earned $0.32 EPS. OM Asset Management PLC’s revenue was down 26.7% on a year-over-year basis. Analysts predict that OM Asset Management PLC will post $1.20 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 14th. OM Asset Management PLC’s dividend payout ratio (DPR) is presently 27.59%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its position in OM Asset Management PLC by 36.2% in the second quarter. Nomura Holdings Inc. now owns 14,300 shares of the company’s stock valued at $191,000 after buying an additional 3,800 shares during the period. Royal Bank of Canada bought a new position in OM Asset Management PLC during the second quarter valued at $124,000. Schwab Charles Investment Management Inc. boosted its position in OM Asset Management PLC by 72.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 59,100 shares of the company’s stock valued at $789,000 after buying an additional 24,900 shares during the period. Hillsdale Investment Management Inc. bought a new position in OM Asset Management PLC during the second quarter valued at $415,000. Finally, Numeric Investors LLC bought a new position in OM Asset Management PLC during the second quarter valued at $818,000. Institutional investors own 32.60% of the company’s stock.
About OM Asset Management PLC
OM Asset Management plc is a multi-boutique asset management company. The Company operates its business through its approximately seven affiliate firms (Affiliates). The Company is an indirect subsidiary of Old Mutual plc, which is an investment, savings, insurance and banking group. The Company’s Affiliates include Acadian Asset Management LLC (Acadian), Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley), Campbell Global, LLC (Campbell Global), Copper Rock Capital Partners LLC, Heitman LLC, Investment Counselors of Maryland, LLC and Thompson, Siegel & Walmsley LLC.
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