OM Asset Management (NYSE:OMAM) Upgraded at Zacks Investment Research
OM Asset Management (NYSE:OMAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, January 4th. The brokerage presently has a $19.00 price target on the asset manager’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 6.09% from the stock’s previous close.
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. “
Other analysts also recently issued reports about the company. Royal Bank of Canada set a $18.00 price target on OM Asset Management and gave the stock a “buy” rating in a research report on Wednesday, October 18th. BidaskClub upgraded OM Asset Management from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. ValuEngine upgraded OM Asset Management from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. TheStreet upgraded OM Asset Management from a “d” rating to a “c” rating in a research report on Monday, October 9th. Finally, Citigroup lifted their price objective on OM Asset Management from $18.50 to $20.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. OM Asset Management presently has a consensus rating of “Buy” and a consensus price target of $19.43.
OM Asset Management (NYSE:OMAM) last announced its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. OM Asset Management had a net margin of 9.49% and a return on equity of 114.45%. The business had revenue of $228.20 million during the quarter, compared to analyst estimates of $220.50 million. During the same period last year, the firm posted $0.32 EPS. The company’s revenue was up 29.8% on a year-over-year basis. equities research analysts expect that OM Asset Management will post 1.58 EPS for the current year.
In related news, CAO Daniel K. Mahoney sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $15.94, for a total value of $31,880.00. Following the sale, the chief accounting officer now owns 7,493 shares in the company, valued at $119,438.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Linda T. Gibson sold 46,357 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $16.46, for a total value of $763,036.22. Following the completion of the transaction, the executive vice president now directly owns 146,193 shares of the company’s stock, valued at $2,406,336.78. The disclosure for this sale can be found here. Insiders sold 56,257 shares of company stock worth $922,264 in the last quarter. 1.48% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its stake in shares of OM Asset Management by 52.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 90,300 shares of the asset manager’s stock worth $1,342,000 after buying an additional 31,200 shares during the period. Rhumbline Advisers raised its stake in shares of OM Asset Management by 40.4% during the 2nd quarter. Rhumbline Advisers now owns 58,012 shares of the asset manager’s stock worth $862,000 after buying an additional 16,705 shares during the period. SG Americas Securities LLC acquired a new position in shares of OM Asset Management during the 2nd quarter worth approximately $159,000. Bank of New York Mellon Corp raised its stake in shares of OM Asset Management by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 220,725 shares of the asset manager’s stock worth $3,279,000 after buying an additional 25,078 shares during the period. Finally, Legal & General Group Plc raised its stake in OM Asset Management by 19.2% in the 2nd 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 during the last quarter. 64.97% of the stock is owned by institutional investors.
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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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