Philadelphia Financial Management of San Francisco LLC reduced its position in OM Asset Management PLC (NYSE:OMAM) by 45.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,136,053 shares of the asset manager’s stock after selling 949,902 shares during the quarter. OM Asset Management accounts for about 2.8% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 15th largest holding. Philadelphia Financial Management of San Francisco LLC owned approximately 1.04% of OM Asset Management worth $19,029,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of OMAM. Citadel Advisors LLC raised its position in shares of OM Asset Management by 8.9% in the 3rd quarter. Citadel Advisors LLC now owns 1,881,439 shares of the asset manager’s stock worth $28,071,000 after acquiring an additional 154,519 shares in the last quarter. Bank of New York Mellon Corp increased its position in OM Asset Management by 26.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 279,067 shares of the asset manager’s stock valued at $4,163,000 after buying an additional 58,342 shares in the last quarter. Moody Aldrich Partners LLC purchased a new stake in OM Asset Management during the 4th quarter valued at $1,547,000. Globeflex Capital L P boosted its stake in OM Asset Management by 8.7% during the 4th quarter. Globeflex Capital L P now owns 717,156 shares of the asset manager’s stock valued at $12,012,000 after purchasing an additional 57,327 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in OM Asset Management by 23.9% during the 2nd quarter. California State Teachers Retirement System now owns 97,942 shares of the asset manager’s stock valued at $1,455,000 after purchasing an additional 18,900 shares during the last quarter. Institutional investors own 98.01% of the company’s stock.
Shares of OMAM stock traded up $0.20 during midday trading on Wednesday, hitting $15.90. The company had a trading volume of 121,370 shares, compared to its average volume of 764,685. The stock has a market capitalization of $1,722.50, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.54 and a beta of 1.82. OM Asset Management PLC has a 12-month low of $13.20 and a 12-month high of $18.62. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26.
OM Asset Management (NYSE:OMAM) last issued its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $252.30 million during the quarter, compared to the consensus estimate of $240.25 million. OM Asset Management had a net margin of 0.47% and a return on equity of 129.15%. OM Asset Management’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. equities research analysts anticipate that OM Asset Management PLC will post 1.94 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, March 15th. OM Asset Management’s payout ratio is presently 1,800.00%.
In other news, EVP Aidan J. Riordan sold 5,203 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $15.45, for a total transaction of $80,386.35. Following the transaction, the executive vice president now directly owns 122,091 shares of the company’s stock, valued at $1,886,305.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Belgrad sold 5,000 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.87, for a total value of $79,350.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,054 shares of company stock worth $2,056,724. Insiders own 1.48% of the company’s stock.
A number of research firms have recently issued reports on OMAM. Royal Bank of Canada set a $20.00 target price on OM Asset Management and gave the company a “buy” rating in a research report on Saturday, December 16th. Sandler O’Neill set a $19.00 price target on OM Asset Management and gave the company a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research raised OM Asset Management from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $22.00 target price on shares of OM Asset Management in a report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. OM Asset Management currently has an average rating of “Buy” and a consensus target price of $19.43.
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OM Asset Management 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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