BidaskClub cut shares of OM Asset Management PLC (NYSE:OMAM) from a sell rating to a strong sell rating in a research note released on Saturday, August 5th.
Other research analysts have also recently issued research reports about the company. Royal Bank Of Canada assumed coverage on OM Asset Management PLC in a research report on Thursday, June 29th. They issued an outperform rating and a $18.00 target price on the stock. Keefe, Bruyette & Woods reiterated a buy rating and issued a $17.50 target price on shares of OM Asset Management PLC in a research report on Friday, August 4th. Zacks Investment Research cut OM Asset Management PLC from a buy rating to a hold rating in a research report on Saturday, June 24th. ValuEngine cut OM Asset Management PLC from a buy rating to a hold rating in a research report on Friday, June 2nd. 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 report on Monday, June 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $17.50.
Shares of OM Asset Management PLC (NYSE OMAM) traded down 0.36% on Friday, reaching $13.72. 231,354 shares of the company traded hands. OM Asset Management PLC has a one year low of $12.10 and a one year high of $16.01. The company has a market capitalization of $1.53 billion, a P/E ratio of 17.26 and a beta of 1.71. The firm’s 50 day moving average is $14.77 and its 200 day moving average is $14.81.
OM Asset Management PLC (NYSE:OMAM) last released its earnings results 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. OM Asset Management PLC had a return on equity of 95.51% and a net margin of 12.12%. The firm had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $211.67 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. Analysts expect that OM Asset Management PLC will post $1.54 earnings per share for the current fiscal year.
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OM Asset Management PLC announced that its Board of Directors has approved a share buyback plan on Monday, May 15th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the asset manager to repurchase shares of its stock through a private placement purchase. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, September 14th. OM Asset Management PLC’s payout ratio is 45.57%.
In related news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of OM Asset Management PLC stock in a transaction that occurred on 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 transaction, the insider now directly owns 22,001,183 shares of the company’s stock, valued at $320,117,212.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Peter L. Bain sold 98,145 shares of OM Asset Management PLC stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $13.63, for a total value 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 $5,186,896.50. The disclosure for this sale can be found here. Insiders have sold 25,615,602 shares of company stock worth $372,451,834 over the last three months. Insiders own 1.48% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC raised 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 worth $25,662,000 after buying an additional 1,709,058 shares in the last quarter. Voya Investment Management LLC raised 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 worth $41,233,000 after buying an additional 1,554,720 shares in the last quarter. Renaissance Technologies LLC bought a new position in OM Asset Management PLC during the second quarter worth approximately $18,212,000. Thrivent Financial For Lutherans bought a new position in OM Asset Management PLC during the second quarter worth approximately $14,219,000. Finally, Norges Bank bought a new position in OM Asset Management PLC during the fourth quarter worth approximately $11,248,000. 47.94% of the stock is currently owned by institutional investors.
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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