Geode Capital Management LLC raised its position in OM Asset Management PLC (NYSE:OMAM) by 29.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 260,144 shares of the asset manager’s stock after buying an additional 59,907 shares during the period. Geode Capital Management LLC owned approximately 0.23% of OM Asset Management PLC worth $3,932,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC boosted its position in OM Asset Management PLC by 9.5% in the first quarter. William Blair Investment Management LLC now owns 3,238,293 shares of the asset manager’s stock worth $48,963,000 after buying an additional 281,989 shares during the last quarter. Neuberger Berman Group LLC boosted its position in OM Asset Management PLC by 0.6% in the first quarter. Neuberger Berman Group LLC now owns 2,453,493 shares of the asset manager’s stock worth $37,097,000 after buying an additional 13,790 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its position in OM Asset Management PLC by 7.2% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,670,206 shares of the asset manager’s stock worth $25,254,000 after buying an additional 112,687 shares during the last quarter. Vanguard Group Inc. boosted its position in OM Asset Management PLC by 15.3% in the first quarter. Vanguard Group Inc. now owns 1,001,315 shares of the asset manager’s stock worth $15,139,000 after buying an additional 133,054 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in OM Asset Management PLC by 168.8% in the first quarter. Wells Fargo & Company MN now owns 831,340 shares of the asset manager’s stock worth $12,570,000 after buying an additional 522,089 shares during the last quarter. Hedge funds and other institutional investors own 47.94% of the company’s stock.
OM Asset Management PLC (OMAM) traded down 1.68% during midday trading on Thursday, reaching $13.49. The company had a trading volume of 107,335 shares. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01. The company has a 50-day moving average of $14.77 and a 200-day moving average of $14.81. The stock has a market capitalization of $1.48 billion, a PE ratio of 17.05 and a beta of 1.71.
OM Asset Management PLC (NYSE:OMAM) last released its quarterly earnings data on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The firm 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%. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. On average, analysts predict that OM Asset Management PLC will post $1.54 EPS for the current fiscal year.
OM Asset Management PLC announced that its Board of Directors has initiated a share repurchase plan on Monday, May 15th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through a private placement purchase. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Thursday, September 14th. OM Asset Management PLC’s dividend payout ratio (DPR) is 45.57%.
OMAM has been the topic of a number of research reports. Royal Bank Of Canada initiated coverage on OM Asset Management PLC in a research report on Thursday, June 29th. They set an “outperform” rating and a $18.00 target price on the stock. ValuEngine lowered OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub lowered OM Asset Management PLC from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Zacks Investment Research raised OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $17.50 target price on shares of OM Asset Management PLC in a research report on Friday, August 4th. Two equities research 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’s stock. OM Asset Management PLC has an average rating of “Buy” and an average target price of $17.50.
In related news, CEO Peter L. Bain sold 273,885 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $14.21, for a total transaction of $3,891,905.85. Following the completion of the transaction, the chief executive officer now directly owns 596,862 shares of the company’s stock, valued at $8,481,409.02. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 25,615,602 shares of company stock valued at $372,451,834. Corporate insiders own 1.48% 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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