OM Asset Management PLC (OMAM) Receives $16.30 Average Target Price from Analysts
OM Asset Management PLC (NYSE:OMAM) has earned an average recommendation of “Buy” from the seven brokerages that are presently covering the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.30.
OMAM has been the subject of several recent analyst reports. Credit Suisse Group set a $17.00 target price on OM Asset Management PLC and gave the company a “buy” rating in a research note on Saturday, February 4th. Zacks Investment Research upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, January 4th. Finally, TheStreet cut OM Asset Management PLC from a “hold” rating to a “sell” rating in a report on Friday, November 18th.
In other OM Asset Management PLC news, EVP Linda T. Gibson sold 9,043 shares of the company’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $14.96, for a total value of $135,283.28. Following the completion of the transaction, the executive vice president now owns 208,848 shares of the company’s stock, valued at approximately $3,124,366.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Group (Uk) Ltd Om sold 20,950,000 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $14.25, for a total value of $298,537,500.00. Following the completion of the transaction, the insider now directly owns 64,310,859 shares of the company’s stock, valued at approximately $916,429,740.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,025,565 shares of company stock valued at $299,668,470. Insiders own 1.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada purchased a new position in OM Asset Management PLC during the second quarter valued at approximately $124,000. Walleye Trading LLC purchased a new position in OM Asset Management PLC during the second quarter valued at approximately $132,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in OM Asset Management PLC during the third quarter valued at approximately $160,000. Guggenheim Capital LLC purchased a new position in OM Asset Management PLC during the fourth quarter valued at approximately $166,000. Finally, Airain ltd purchased a new position in OM Asset Management PLC during the second quarter valued at approximately $241,000. 36.45% of the stock is owned by hedge funds and other institutional investors.
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OM Asset Management PLC (NYSE:OMAM) opened at 14.99 on Tuesday. The company’s 50-day moving average price is $14.55 and its 200-day moving average price is $14.04. OM Asset Management PLC has a 52-week low of $10.70 and a 52-week high of $15.52. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 14.28 and a beta of 1.76.
OM Asset Management PLC (NYSE:OMAM) last announced its earnings results on Thursday, February 2nd. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. OM Asset Management PLC had a return on equity of 75.43% and a net margin of 19.05%. The firm earned $186.60 million during the quarter, compared to the consensus estimate of $189.32 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. Analysts predict that OM Asset Management PLC will post $1.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $0.32 annualized dividend and a yield of 2.13%. OM Asset Management PLC’s dividend payout ratio (DPR) is 30.48%.
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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