OM Asset Management PLC (OMAM) Raised to Buy at ValuEngine
ValuEngine upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a hold rating to a buy rating in a research note published on Monday.
Several other analysts have also issued reports on the company. Royal Bank Of Canada initiated coverage on OM Asset Management PLC in a research note on Thursday, June 29th. They issued an outperform rating and a $18.00 target price for the company. Wells Fargo & Company raised OM Asset Management PLC from a market perform rating to an outperform rating and set a $17.00 target price for the company in a research note on Monday, June 5th. BidaskClub raised OM Asset Management PLC from a sell rating to a hold rating in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $17.50 target price on shares of OM Asset Management PLC in a research note on Tuesday, September 5th. Finally, Zacks Investment Research lowered OM Asset Management PLC from a buy rating to a hold rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $17.88.
Shares of OM Asset Management PLC (NYSE OMAM) traded up 0.81% on Monday, reaching $15.01. 67,604 shares of the company were exchanged. The firm has a market capitalization of $1.65 billion, a PE ratio of 18.98 and a beta of 1.74. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01. The stock’s 50-day moving average is $13.87 and its 200 day moving average is $14.56.
OM Asset Management PLC (NYSE:OMAM) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The business had revenue of $218.80 million during the quarter, compared to analyst estimates of $211.67 million. OM Asset Management PLC had a return on equity of 95.51% and a net margin of 12.12%. OM Asset Management PLC’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, analysts forecast that OM Asset Management PLC will post $1.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 2.42%. OM Asset Management PLC’s payout ratio is currently 45.57%.
In other OM Asset Management PLC news, CEO Peter L. Bain sold 273,885 shares of the business’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 sale, the chief executive officer now owns 596,862 shares in the company, valued at $8,481,409.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert J. Chersi acquired 7,500 shares of the stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $13.48 per share, with a total value of $101,100.00. Following the transaction, the director now directly owns 12,971 shares of the company’s stock, valued at approximately $174,849.08. The disclosure for this purchase can be found here. Insiders sold 720,602 shares of company stock valued at $10,229,584 in the last quarter. Corporate insiders own 1.48% of the company’s stock.
A number of hedge funds have recently made changes to their positions in OMAM. Citadel Advisors LLC lifted its position in OM Asset Management PLC by 9,568.1% in the second quarter. Citadel Advisors LLC now owns 1,726,920 shares of the asset manager’s stock valued at $25,662,000 after purchasing an additional 1,709,058 shares during the last quarter. Voya Investment Management LLC lifted its position in OM Asset Management PLC by 127.4% in the second quarter. Voya Investment Management LLC now owns 2,774,790 shares of the asset manager’s stock valued at $41,233,000 after purchasing an additional 1,554,720 shares during the last quarter. Renaissance Technologies LLC bought a new stake in OM Asset Management PLC in the second quarter valued at approximately $18,212,000. Thrivent Financial For Lutherans bought a new stake in OM Asset Management PLC in the second quarter valued at approximately $14,219,000. Finally, Globeflex Capital L P bought a new stake in OM Asset Management PLC in the first quarter valued at approximately $9,845,000. Hedge funds and other institutional investors own 66.02% 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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