Royal Bank Of Canada set a $18.00 price objective on OM Asset Management PLC (NYSE:OMAM) in a research report sent to investors on Wednesday, October 18th. The firm currently has a buy rating on the asset manager’s stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut OM Asset Management PLC from a sell rating to a strong sell rating in a research report on Saturday, August 5th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $17.50 price objective on shares of OM Asset Management PLC in a research report on Friday, August 4th. ValuEngine cut OM Asset Management PLC from a buy rating to a hold rating in a research report on Friday, September 22nd. Finally, Zacks Investment Research raised OM Asset Management PLC from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research report on Wednesday, October 11th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $17.70.
OM Asset Management PLC (NYSE OMAM) traded up 0.51% during trading on Wednesday, reaching $15.74. 76,614 shares of the company’s stock were exchanged. OM Asset Management PLC has a 52-week low of $12.10 and a 52-week high of $16.01. The firm has a market cap of $1.73 billion, a P/E ratio of 19.90 and a beta of 1.74. The stock’s 50 day moving average price is $14.58 and its 200 day moving average price is $14.61.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $211.67 million. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis. Equities research analysts anticipate that OM Asset Management PLC will post $1.56 EPS for the current fiscal year.
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The company also recently announced 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 2.30%. OM Asset Management PLC’s payout ratio is 45.57%.
In other news, CEO Peter L. Bain sold 145,842 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $14.42, for a total value of $2,103,041.64. Following the transaction, the chief executive officer now owns 778,474 shares of the company’s stock, valued at $11,225,595.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Chersi acquired 7,500 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost 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. Insiders sold 720,602 shares of company stock worth $10,229,584 over the last three months. Insiders own 1.48% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of OM Asset Management PLC by 1.0% in the first quarter. Bank of America Corp DE now owns 139,704 shares of the asset manager’s stock worth $2,112,000 after buying an additional 1,362 shares during the period. Oppenheimer Asset Management Inc. raised its stake in OM Asset Management PLC by 22.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after purchasing an additional 1,488 shares during the period. American International Group Inc. raised its stake in OM Asset Management PLC by 7.1% during the 1st quarter. American International Group Inc. now owns 24,712 shares of the asset manager’s stock valued at $374,000 after purchasing an additional 1,637 shares during the period. Parametric Portfolio Associates LLC raised its stake in OM Asset Management PLC by 5.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 37,032 shares of the asset manager’s stock valued at $550,000 after purchasing an additional 1,981 shares during the period. Finally, Legal & General Group Plc raised its stake in OM Asset Management PLC by 19.2% during 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 period. 66.10% of the stock is currently owned by hedge funds and other 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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