Zacks Investment Research downgraded shares of OM Asset Management (NYSE:OMAM) from a buy rating to a hold rating in a report issued on Wednesday, January 3rd.
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 equities research analysts also recently issued research reports about the company. ValuEngine downgraded OM Asset Management from a buy rating to a hold rating in a report on Friday, September 22nd. Citigroup upped their price target on OM Asset Management from $18.50 to $20.00 and gave the stock a buy rating in a report on Friday, November 3rd. BidaskClub upgraded OM Asset Management from a sell rating to a hold rating in a report on Thursday, October 5th. Keefe, Bruyette & Woods reiterated a buy rating and set a $17.50 price target on shares of OM Asset Management in a report on Tuesday, September 5th. Finally, TheStreet upgraded OM Asset Management from a d rating to a c rating in a report on Monday, October 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $19.43.
OM Asset Management (OMAM) traded up $0.50 during midday trading on Wednesday, hitting $18.34. The stock had a trading volume of 417,070 shares, compared to its average volume of 452,366. The company has a market capitalization of $1,957.41, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 0.63 and a beta of 1.76. OM Asset Management has a 52-week low of $13.20 and a 52-week high of $18.37. The company has a debt-to-equity ratio of 3.23, a quick ratio of 1.65 and a current ratio of 1.65.
OM Asset Management (NYSE:OMAM) last released its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The firm had revenue of $228.20 million during the quarter, compared to the consensus estimate of $220.50 million. OM Asset Management had a return on equity of 114.45% and a net margin of 9.49%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 earnings per share. equities analysts expect that OM Asset Management will post 1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.96%. OM Asset Management’s dividend payout ratio is presently 52.94%.
In related news, CAO Daniel K. Mahoney sold 2,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $15.94, for a total transaction of $31,880.00. Following the sale, the chief accounting officer now owns 7,493 shares of the company’s stock, valued at approximately $119,438.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Joseph Ritchie sold 7,900 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $16.12, for a total value of $127,348.00. Following the sale, the director now directly owns 18,372 shares in the company, valued at approximately $296,156.64. The disclosure for this sale can be found here. Insiders have sold a total of 56,257 shares of company stock worth $922,264 in the last ninety days. Insiders own 1.48% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in OM Asset Management by 13.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,899,248 shares of the asset manager’s stock worth $43,083,000 after purchasing an additional 346,124 shares in the last quarter. Voya Investment Management LLC lifted its holdings in OM Asset Management by 127.4% during the 2nd quarter. Voya Investment Management LLC now owns 2,774,790 shares of the asset manager’s stock worth $41,233,000 after purchasing an additional 1,554,720 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in OM Asset Management by 2.1% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,194,088 shares of the asset manager’s stock worth $32,736,000 after purchasing an additional 45,490 shares in the last quarter. Citadel Advisors LLC lifted its holdings in OM Asset Management by 8.9% during the 3rd quarter. Citadel Advisors LLC now owns 1,881,439 shares of the asset manager’s stock worth $28,071,000 after purchasing an additional 154,519 shares in the last quarter. Finally, Sirios Capital Management L P lifted its holdings in OM Asset Management by 8.6% during the 3rd quarter. Sirios Capital Management L P now owns 1,733,176 shares of the asset manager’s stock worth $25,859,000 after purchasing an additional 137,779 shares in the last quarter. 64.94% of the stock is currently owned by institutional investors and hedge funds.
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About OM Asset Management
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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