OM Asset Management PLC (OMAM) Announces Quarterly Earnings Results
OM Asset Management PLC (NYSE:OMAM) released its quarterly earnings data on Thursday. The asset manager reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02, Bloomberg Earnings reports. OM Asset Management PLC had a net margin of 9.49% and a return on equity of 110.15%. The business had revenue of $228.20 million during the quarter, compared to analyst estimates of $220.50 million. During the same quarter last year, the business earned $0.32 earnings per share. OM Asset Management PLC’s quarterly revenue was up 29.8% compared to the same quarter last year.
OM Asset Management PLC (NYSE:OMAM) traded up $0.36 during trading on Friday, hitting $15.75. 355,809 shares of the stock traded hands, compared to its average volume of 366,603. The stock has a market cap of $1,728.09, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 0.74 and a beta of 1.74.
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In related news, Director Robert J. Chersi purchased 7,500 shares of OM Asset Management PLC stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $13.48 per share, with a total value of $101,100.00. Following the purchase, the director now directly owns 12,971 shares of the company’s stock, valued at approximately $174,849.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter L. Bain sold 98,145 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $13.63, for a total transaction of $1,337,716.35. Following the completion of the transaction, the chief executive officer now directly owns 380,550 shares in the company, valued at approximately $5,186,896.50. The disclosure for this sale can be found here. Insiders sold a total of 574,760 shares of company stock worth $8,126,542 in the last ninety days. 1.48% of the stock is currently owned by insiders.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, October 11th. ValuEngine upgraded shares of OM Asset Management PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub upgraded shares of OM Asset Management PLC from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 26th. TheStreet upgraded shares of OM Asset Management PLC from a “d” rating to a “c” rating in a report on Monday, October 9th. Finally, Citigroup Inc. raised their target price on shares of OM Asset Management PLC from $18.50 to $20.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.08.
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.
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