OM Asset Management PLC (OMAM) Lifted to “C” at TheStreet
OMAM has been the subject of a number of other research reports. BidaskClub upgraded OM Asset Management PLC from a strong sell rating to a sell rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $17.50 price target on shares of OM Asset Management PLC in a research report on Tuesday, September 5th. Royal Bank Of Canada set a $18.00 price target on OM Asset Management PLC and gave the stock a buy rating in a research report on Thursday, August 3rd. ValuEngine raised OM Asset Management PLC from a hold rating to a buy rating in a research report on Tuesday, June 20th. Finally, Zacks Investment Research downgraded OM Asset Management PLC from a buy rating to a hold rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $17.70.
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, topping the Zacks’ consensus estimate 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 return on equity of 95.51% and a net margin of 12.12%. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, September 14th. OM Asset Management PLC’s dividend payout ratio is currently 45.57%.
In other OM Asset Management PLC news, CEO Peter L. Bain sold 273,885 shares of the 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 sale, the chief executive officer now directly owns 596,862 shares of the company’s stock, valued at approximately $8,481,409.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter L. Bain sold 111,612 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $14.33, for a total value of $1,599,399.96. Following the sale, the chief executive officer now directly owns 596,862 shares in the company, valued at $8,553,032.46. The disclosure for this sale can be found here. Insiders have sold a total of 720,602 shares of company stock worth $10,229,584 over the last ninety days. 1.48% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its position in shares of OM Asset Management PLC by 22.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 1,488 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $156,000. SG Americas Securities LLC acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $159,000. BlueCrest Capital Management Ltd acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $168,000. Finally, First Quadrant L P CA acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $178,000. 66.02% of the stock is currently 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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