Legal & General Group Plc decreased its position in OM Asset Management PLC (NYSE:OMAM) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 13,764 shares of the asset manager’s stock after selling 252 shares during the period. Legal & General Group Plc’s holdings in OM Asset Management PLC were worth $207,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC raised its position in OM Asset Management PLC by 9.5% in the first quarter. William Blair Investment Management LLC now owns 3,238,293 shares of the asset manager’s stock valued at $48,963,000 after buying an additional 281,989 shares during the period. Neuberger Berman Group LLC raised its position in OM Asset Management PLC by 0.6% in the first quarter. Neuberger Berman Group LLC now owns 2,453,493 shares of the asset manager’s stock valued at $37,097,000 after buying an additional 13,790 shares during the period. State Street Corp raised its position in OM Asset Management PLC by 5.0% in the fourth quarter. State Street Corp now owns 831,892 shares of the asset manager’s stock valued at $12,063,000 after buying an additional 39,534 shares during the period. Wells Fargo & Company MN raised its position in OM Asset Management PLC by 168.8% in the first quarter. Wells Fargo & Company MN now owns 831,340 shares of the asset manager’s stock valued at $12,570,000 after buying an additional 522,089 shares during the period. Finally, Norges Bank acquired a new position in OM Asset Management PLC during the fourth quarter valued at approximately $11,248,000. Institutional investors and hedge funds own 46.24% of the company’s stock.

OM Asset Management PLC (OMAM) traded up 1.10% during trading on Friday, reaching $13.80. 1,237,795 shares of the company’s stock traded hands. The firm has a market capitalization of $1.54 billion, a PE ratio of 17.36 and a beta of 1.71. The company has a 50-day moving average price of $14.86 and a 200 day moving average price of $14.82. OM Asset Management PLC has a one year low of $12.10 and a one year high of $16.01.

OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 86.89%. The firm had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.67 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, analysts anticipate that OM Asset Management PLC will post $1.54 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.61%. OM Asset Management PLC’s payout ratio is 45.57%.

OM Asset Management PLC declared that its Board of Directors has approved a stock buyback plan on Monday, May 15th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through a private placement purchase. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

WARNING: “Legal & General Group Plc Cuts Stake in OM Asset Management PLC (NYSE:OMAM)” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.watchlistnews.com/legal-general-group-plc-cuts-stake-in-om-asset-management-plc-nyseomam/1478882.html.

Several equities analysts have commented on OMAM shares. Royal Bank Of Canada started coverage on shares of OM Asset Management PLC in a research report on Thursday, June 29th. They set an “outperform” rating and a $18.00 price objective for the company. ValuEngine lowered shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered shares of OM Asset Management PLC from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Zacks Investment Research upgraded shares of OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, June 27th. 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 report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $17.50.

In other OM Asset Management PLC news, CEO Peter L. Bain sold 91,118 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $14.24, for a total value of $1,297,520.32. Following the transaction, the chief executive officer now directly owns 596,862 shares in the company, valued at $8,499,314.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Group (Uk) Ltd Om sold 22,300,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $14.55, for a total transaction of $324,465,000.00. Following the completion of the transaction, the insider now owns 29,596,183 shares in the company, valued at $430,624,462.65. The disclosure for this sale can be found here. Insiders have sold 25,517,457 shares of company stock worth $371,114,118 over the last 90 days. Insiders own 1.48% of the company’s stock.

About OM Asset Management PLC

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.

Want to see what other hedge funds are holding OMAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OM Asset Management PLC (NYSE:OMAM).

Institutional Ownership by Quarter for OM Asset Management PLC (NYSE:OMAM)

Receive News & Ratings for OM Asset Management PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OM Asset Management PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.