Russell Investments Group Ltd. Sells 72,526 Shares of OM Asset Management PLC (OMAM)
Russell Investments Group Ltd. lessened its stake in OM Asset Management PLC (NYSE:OMAM) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,021,329 shares of the asset manager’s stock after selling 72,526 shares during the period. Russell Investments Group Ltd. owned about 0.93% of OM Asset Management worth $15,238,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in OMAM. Oppenheimer Asset Management Inc. boosted its position in OM Asset Management by 22.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock worth $119,000 after purchasing an additional 1,488 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of OM Asset Management during the 2nd quarter valued at approximately $156,000. SG Americas Securities LLC purchased a new position in shares of OM Asset Management during the 2nd quarter valued at approximately $159,000. BlueCrest Capital Management Ltd purchased a new position in shares of OM Asset Management during the 2nd quarter valued at approximately $168,000. Finally, First Quadrant L P CA purchased a new position in shares of OM Asset Management during the 2nd quarter valued at approximately $178,000. Institutional investors and hedge funds own 64.94% of the company’s stock.
In related news, CAO Daniel K. Mahoney sold 2,000 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $15.94, for a total value of $31,880.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,493 shares of the company’s stock, valued at approximately $119,438.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.48% of the stock is currently owned by corporate insiders.
OM Asset Management (NYSE:OMAM) last posted its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. OM Asset Management had a return on equity of 114.45% 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 period in the prior year, the company earned $0.32 EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. analysts forecast that OM Asset Management PLC will post 1.58 earnings per share for the current year.
The company also recently disclosed 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 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, December 14th. OM Asset Management’s dividend payout ratio is currently 52.94%.
OMAM has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $18.00 target price on OM Asset Management and gave the company a “buy” rating in a research report on Wednesday, October 18th. Citigroup increased their target price on OM Asset Management from $18.50 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. ValuEngine upgraded OM Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded OM Asset Management from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, November 9th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $17.50 target price on shares of OM Asset Management in a research report on Tuesday, September 5th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. OM Asset Management has an average rating of “Buy” and a consensus target price of $18.08.
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OM Asset Management 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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