Zacks Investment Research Downgrades OM Asset Management PLC (OMAM) to Hold
Zacks Investment Research cut shares of OM Asset Management PLC (NYSE:OMAM) from a buy rating to a hold rating in a report released on Saturday morning.
According to Zacks, “OM Asset Management plc operates as a multi-boutique asset management company. It provides its services to individuals and institutions. The Company offers products in domestic and international equities, fixed income, and alternative investments, such as timber and real estate. OM Asset Management plc is based Boston, Massachusetts. “
A number of other research firms have also recently commented on OMAM. Credit Suisse Group reiterated a buy rating and set a $19.00 target price on shares of OM Asset Management PLC in a research note on Friday, April 7th. Evercore ISI reiterated an outperform rating on shares of OM Asset Management PLC in a research note on Monday, April 3rd. Keefe, Bruyette & Woods reiterated an outperform rating on shares of OM Asset Management PLC in a research note on Thursday, April 6th. ValuEngine upgraded OM Asset Management PLC from a hold rating to a buy rating in a research note on Tuesday. Finally, Wells Fargo & Company upgraded OM Asset Management PLC from a market perform rating to an outperform rating and set a $17.00 target price on the stock in a research note on Monday, June 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $16.90.
OM Asset Management PLC (NYSE OMAM) opened at 14.71 on Friday. 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 capitalization of $1.69 billion, a P/E ratio of 15.01 and a beta of 1.72. The firm has a 50 day moving average of $14.60 and a 200 day moving average of $14.74.
OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, May 4th. The asset manager reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. The company had revenue of $198.80 million for the quarter, compared to analysts’ expectations of $196.70 million. OM Asset Management PLC had a return on equity of 81.34% and a net margin of 16.48%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. On average, analysts forecast that OM Asset Management PLC will post $1.52 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a $0.09 dividend. This is a boost from OM Asset Management PLC’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, June 14th. OM Asset Management PLC’s payout ratio is currently 36.74%.
In related news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $14.55, for a total value of $37,757,250.00. Following the sale, the insider now directly owns 22,001,183 shares in the company, valued at approximately $320,117,212.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Belgrad sold 27,292 shares of the business’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $15.00, for a total value of $409,380.00. Following the completion of the sale, the chief financial officer now owns 223,417 shares in the company, valued at $3,351,255. The disclosure for this sale can be found here. Insiders sold a total of 25,094,767 shares of company stock worth $365,217,030 over the last 90 days. 1.48% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Guggenheim Capital LLC purchased a new stake in shares of OM Asset Management PLC during the fourth quarter worth about $166,000. Nine Chapters Capital Management LLC boosted its stake in shares of OM Asset Management PLC by 20.7% in the first quarter. Nine Chapters Capital Management LLC now owns 14,000 shares of the asset manager’s stock worth $212,000 after buying an additional 2,400 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of OM Asset Management PLC during the first quarter worth about $245,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of OM Asset Management PLC during the first quarter worth about $339,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of OM Asset Management PLC during the fourth quarter worth about $351,000. Institutional investors and hedge funds own 46.23% of the company’s stock.
OM Asset Management PLC 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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