OM Asset Management PLC (NYSE:OMAM) has been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $17.88.
A number of equities analysts have recently commented on OMAM shares. Royal Bank Of Canada started coverage on shares of OM Asset Management PLC in a research report on Thursday, June 29th. They issued an “outperform” rating and a $18.00 price target on the stock. Wells Fargo & Company raised shares of OM Asset Management PLC from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Monday, June 5th. BidaskClub raised shares of OM Asset Management PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine raised shares of OM Asset Management PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Zacks Investment Research lowered shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
Shares of OM Asset Management PLC (NYSE:OMAM) traded up 2.21% on Tuesday, hitting $13.89. 479,493 shares of the stock traded hands. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 17.56 and a beta of 1.72. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01. The stock has a 50-day moving average price of $14.01 and a 200 day moving average price of $14.66.
OM Asset Management PLC (NYSE:OMAM) last released its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 95.51%. The company had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.67 million. During the same quarter last year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. On average, analysts anticipate that OM Asset Management PLC will post $1.54 earnings per share for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 annualized dividend and a dividend yield of 2.59%. OM Asset Management PLC’s payout ratio is 45.57%.
OM Asset Management PLC announced that its Board of Directors has initiated a stock repurchase program on Monday, May 15th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through a private placement purchase. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other OM Asset Management PLC news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of OM Asset Management PLC stock in a transaction on Monday, June 19th. The shares were sold at an average price of $14.55, for a total transaction of $37,757,250.00. Following the sale, the insider now owns 22,001,183 shares in the company, valued at $320,117,212.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Chersi purchased 7,500 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $13.48 per share, for a total transaction of $101,100.00. Following the purchase, the director now directly owns 12,971 shares of the company’s stock, valued at $174,849.08. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 3,315,602 shares of company stock worth $47,986,834. 1.48% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of OMAM. Teachers Advisors LLC boosted its stake in OM Asset Management PLC by 58.9% during the fourth quarter. Teachers Advisors LLC now owns 163,651 shares of the asset manager’s stock worth $2,373,000 after buying an additional 60,658 shares in the last quarter. Bank of Montreal Can boosted its stake in OM Asset Management PLC by 8,120.2% during the first quarter. Bank of Montreal Can now owns 76,448 shares of the asset manager’s stock worth $1,156,000 after buying an additional 75,518 shares in the last quarter. Nationwide Fund Advisors boosted its stake in OM Asset Management PLC by 32.4% during the first quarter. Nationwide Fund Advisors now owns 153,308 shares of the asset manager’s stock worth $2,318,000 after buying an additional 37,552 shares in the last quarter. Wells Fargo & Company MN boosted its stake in OM Asset Management PLC by 168.8% during 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in OM Asset Management PLC by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 195,647 shares of the asset manager’s stock worth $2,959,000 after buying an additional 9,618 shares in the last quarter. Hedge funds and other institutional investors own 66.03% of the company’s stock.
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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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