OM Asset Management (OMAM) Given a $20.00 Price Target at Royal Bank of Canada
Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of OM Asset Management from a hold rating to a buy rating and set a $17.00 price target on the stock in a research note on Wednesday, October 11th. ValuEngine lowered shares of OM Asset Management from a buy rating to a hold rating in a research note on Friday, September 22nd. Citigroup boosted their price target on shares of OM Asset Management from $18.50 to $20.00 and gave the stock a buy rating in a research note on Friday, November 3rd. BidaskClub upgraded shares of OM Asset Management from a sell rating to a hold rating in a research note on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $17.50 price target on shares of OM Asset Management 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 presently has a consensus rating of Buy and a consensus price target of $18.42.
Shares of OM Asset Management (NYSE OMAM) traded up $0.52 on Friday, reaching $16.73. 996,690 shares of the company traded hands, compared to its average volume of 556,807. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market cap of $1,835.62, a price-to-earnings ratio of 11.01, a P/E/G ratio of 0.78 and a beta of 1.76. OM Asset Management has a 12-month low of $13.20 and a 12-month high of $16.92.
OM Asset Management (NYSE:OMAM) last issued its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The company had revenue of $228.20 million for the quarter, compared to analyst estimates of $220.50 million. OM Asset Management had a net margin of 9.49% and a return on equity of 114.45%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. research analysts anticipate that OM Asset Management will post 1.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 14th. OM Asset Management’s dividend payout ratio is presently 52.94%.
In other news, Director James Joseph Ritchie sold 7,900 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $16.12, for a total transaction of $127,348.00. Following the completion of the transaction, the director now directly owns 18,372 shares of the company’s stock, valued at $296,156.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Daniel K. Mahoney sold 2,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $15.94, for a total value of $31,880.00. Following the transaction, the chief accounting officer now directly owns 7,493 shares of the company’s stock, valued at $119,438.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,257 shares of company stock valued at $922,264. Corporate insiders own 1.48% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in OM Asset Management by 22.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 1,488 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in OM Asset Management by 5.7% in the second quarter. Parametric Portfolio Associates LLC now owns 37,032 shares of the asset manager’s stock valued at $550,000 after purchasing an additional 1,981 shares in the last quarter. Legal & General Group Plc boosted its holdings in OM Asset Management by 19.2% in the second quarter. Legal & General Group Plc now owns 16,402 shares of the asset manager’s stock valued at $244,000 after purchasing an additional 2,638 shares in the last quarter. Comerica Bank boosted its holdings in OM Asset Management by 3.7% in the second quarter. Comerica Bank now owns 180,906 shares of the asset manager’s stock valued at $2,703,000 after purchasing an additional 6,483 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in OM Asset Management by 0.8% in the second quarter. Wells Fargo & Company MN now owns 838,114 shares of the asset manager’s stock valued at $12,453,000 after purchasing an additional 6,774 shares in the last quarter. 64.97% of the stock is owned by institutional investors and hedge funds.
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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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