OM Asset Management PLC (OMAM) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a hold rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $17.00 target price on the asset manager’s stock.
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 a number of other research reports. 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 Wednesday, October 18th. BidaskClub upgraded OM Asset Management PLC from a strong sell rating to a sell rating in a research note on Tuesday, September 26th. ValuEngine upgraded OM Asset Management PLC from a hold rating to a buy rating in a research note on Thursday, November 2nd. TheStreet upgraded OM Asset Management PLC from a d rating to a c rating in a research note on Monday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $17.50 price objective on shares of OM Asset Management PLC in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $18.08.
OM Asset Management PLC (NYSE:OMAM) traded up $0.49 during trading hours on Thursday, reaching $16.04. The company’s stock had a trading volume of 375,805 shares, compared to its average volume of 544,091. OM Asset Management PLC has a 52-week low of $13.20 and a 52-week high of $16.04. The firm has a market cap of $1,709.44, a P/E ratio of 10.25, a P/E/G ratio of 0.73 and a beta of 1.74.
OM Asset Management PLC (NYSE:OMAM) last released its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. OM Asset Management PLC had a return on equity of 110.15% and a net margin of 9.49%. The firm had revenue of $228.20 million during the quarter, compared to the consensus estimate of $220.50 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The business’s revenue was up 29.8% on a year-over-year basis. analysts expect that OM Asset Management PLC will post 1.58 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Thursday, December 14th. OM Asset Management PLC’s dividend payout ratio (DPR) is presently 52.94%.
In other OM Asset Management PLC news, Director Robert J. Chersi purchased 7,500 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $13.48 per share, for a total transaction of $101,100.00. Following the purchase, the director now owns 12,971 shares in the company, valued at $174,849.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.48% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its holdings in OM Asset Management PLC by 22.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after buying an additional 1,488 shares in the last quarter. Principal Financial Group Inc. acquired a new position in OM Asset Management PLC in the 2nd quarter valued at $156,000. SG Americas Securities LLC acquired a new position in OM Asset Management PLC in the 2nd quarter valued at $159,000. BlueCrest Capital Management Ltd acquired a new position in OM Asset Management PLC in the 2nd quarter valued at $168,000. Finally, First Quadrant L P CA acquired a new position in OM Asset Management PLC in the 2nd quarter valued at $178,000. 66.00% of the stock is currently owned by hedge funds and other 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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