OM Asset Management PLC (OMAM) Upgraded to Hold at BidaskClub
BidaskClub upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a sell rating to a hold rating in a research report report published on Thursday morning.
OMAM has been the subject of a number of other reports. Zacks Investment Research downgraded OM Asset Management PLC from a hold rating to a sell rating in a research note on Wednesday. ValuEngine upgraded OM Asset Management PLC from a hold rating to a buy rating in a research note on Monday. Keefe, Bruyette & Woods reiterated a buy rating and set a $17.50 price objective on shares of OM Asset Management PLC in a research note on Tuesday, September 5th. Finally, Royal Bank Of Canada set a $18.00 price objective on OM Asset Management PLC and gave the company a buy rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $17.88.
Shares of OM Asset Management PLC (OMAM) traded down 0.20% during trading on Thursday, reaching $15.00. 232,015 shares of the company’s stock were exchanged. OM Asset Management PLC has a 12 month low of $12.10 and a 12 month high of $16.01. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 18.96 and a beta of 1.74. The stock has a 50-day moving average price of $13.90 and a 200 day moving average price of $14.56.
OM Asset Management PLC (NYSE:OMAM) last announced its quarterly earnings data on Thursday, August 3rd. The asset manager reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The company had revenue of $218.80 million during the quarter, compared to the consensus estimate of $211.67 million. OM Asset Management PLC had a return on equity of 95.51% and a net margin of 12.12%. The firm’s revenue was up 39.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. On average, analysts forecast that OM Asset Management PLC will post $1.54 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.40%. OM Asset Management PLC’s dividend payout ratio (DPR) is presently 45.57%.
In other OM Asset Management PLC news, Director Robert J. Chersi purchased 7,500 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $13.48 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter L. Bain sold 273,885 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $14.21, for a total value of $3,891,905.85. Following the completion of the transaction, the chief executive officer now owns 596,862 shares of the company’s stock, valued at $8,481,409.02. The disclosure for this sale can be found here. Insiders sold a total of 720,602 shares of company stock valued at $10,229,584 over the last 90 days. 1.48% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its stake in OM Asset Management PLC 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 during the period. Principal Financial Group Inc. bought a new position in OM Asset Management PLC in the 2nd quarter worth approximately $156,000. SG Americas Securities LLC bought a new position in OM Asset Management PLC in the 2nd quarter worth approximately $159,000. BlueCrest Capital Management Ltd bought a new position in OM Asset Management PLC in the 2nd quarter worth approximately $168,000. Finally, First Quadrant L P CA bought a new position in OM Asset Management PLC in the 2nd quarter worth approximately $178,000. Institutional investors and hedge funds own 66.02% 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.
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