OM Asset Management PLC (OMAM) Receives Buy Rating from Citigroup Inc.
OM Asset Management PLC (NYSE:OMAM)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a report issued on Tuesday.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of OM Asset Management PLC in a research note on Wednesday, August 31st. Keefe, Bruyette & Woods set a $17.50 target price on shares of OM Asset Management PLC and gave the company a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research raised shares of OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, August 9th. Finally, Morgan Stanley set a $15.00 target price on shares of OM Asset Management PLC and gave the company a “hold” rating in a research note on Friday, August 5th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. OM Asset Management PLC currently has a consensus rating of “Buy” and an average target price of $17.21.
Shares of OM Asset Management PLC (NYSE:OMAM) traded up 0.64% during trading on Tuesday, hitting $14.09. 67,398 shares of the stock traded hands. The firm’s 50-day moving average price is $13.58 and its 200-day moving average price is $13.77. OM Asset Management PLC has a 12 month low of $10.27 and a 12 month high of $17.04. The stock has a market cap of $1.69 billion, a PE ratio of 12.21 and a beta of 1.86.
OM Asset Management PLC (NYSE:OMAM) last posted its earnings results on Thursday, August 4th. The company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The company earned $156.50 million during the quarter, compared to analysts’ expectations of $162.22 million. OM Asset Management PLC had a net margin of 22.02% and a return on equity of 87.34%. OM Asset Management PLC’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. Analysts anticipate that OM Asset Management PLC will post $1.21 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were issued a $0.08 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.32 annualized dividend and a dividend yield of 2.29%. OM Asset Management PLC’s dividend payout ratio (DPR) is presently 27.59%.
Several large investors have recently added to or reduced their stakes in OMAM. Springbok Capital Management LLC purchased a new stake in OM Asset Management PLC during the first quarter valued at about $113,000. Royal Bank of Canada purchased a new stake in OM Asset Management PLC during the second quarter valued at about $124,000. Walleye Trading LLC purchased a new stake in OM Asset Management PLC during the second quarter valued at about $132,000. Globeflex Capital L P purchased a new stake in OM Asset Management PLC during the second quarter valued at about $134,000. Finally, Acrospire Investment Management LLC raised its stake in OM Asset Management PLC by 461.5% in the second quarter. Acrospire Investment Management LLC now owns 11,680 shares of the company’s stock valued at $156,000 after buying an additional 9,600 shares during the period. Hedge funds and other 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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