OM Asset Management PLC (OMAM) Cut to “Hold” at Zacks Investment Research
OM Asset Management PLC (NYSE:OMAM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday.
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. “
Several other analysts also recently issued reports on the company. Credit Suisse Group AG restated a “buy” rating on shares of OM Asset Management PLC in a research note on Wednesday, August 31st. Morgan Stanley set a $15.00 price target on OM Asset Management PLC and gave the company a “hold” rating in a research note on Friday, August 5th. Keefe, Bruyette & Woods set a $17.50 price target on OM Asset Management PLC and gave the company a “buy” rating in a research note on Friday, August 5th. Citigroup Inc. restated a “buy” rating on shares of OM Asset Management PLC in a research note on Saturday, July 2nd. Finally, TheStreet upgraded OM Asset Management PLC from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $17.21.
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OM Asset Management PLC (NYSE:OMAM) traded down 0.35% during trading on Thursday, reaching $14.09. The company had a trading volume of 86,004 shares. The firm’s 50 day moving average price is $13.50 and its 200 day moving average price is $13.71. The firm has a market capitalization of $1.69 billion, a PE ratio of 12.21 and a beta of 1.86. OM Asset Management PLC has a 12-month low of $10.27 and a 12-month high of $17.04.
OM Asset Management PLC (NYSE:OMAM) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business earned $156.50 million during the quarter, compared to the consensus estimate of $162.22 million. OM Asset Management PLC had a return on equity of 87.34% and a net margin of 22.02%. The firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. Analysts anticipate that OM Asset Management PLC will post $1.21 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.08 dividend. The ex-dividend date was Wednesday, September 14th. This represents a $0.32 annualized dividend and a yield of 2.27%. OM Asset Management PLC’s dividend payout ratio is presently 27.59%.
Institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its position in OM Asset Management PLC by 2,550.9% in the first quarter. UBS Group AG now owns 95,089 shares of the company’s stock worth $1,270,000 after buying an additional 91,502 shares during the period. Geode Capital Management LLC boosted its position in OM Asset Management PLC by 16.1% in the first quarter. Geode Capital Management LLC now owns 30,231 shares of the company’s stock worth $402,000 after buying an additional 4,191 shares during the period. Bogle Investment Management L P DE acquired a new position in OM Asset Management PLC during the first quarter worth approximately $345,000. Springbok Capital Management LLC acquired a new position in OM Asset Management PLC during the first quarter worth approximately $113,000. Finally, Smith Asset Management Group LP acquired a new position in OM Asset Management PLC during the second quarter worth approximately $1,510,000. 32.60% of the stock is owned by institutional investors.
About OM Asset Management PLC
OM Asset Management plc is a multi-boutique asset management company. The Company operates its business through its approximately seven affiliate firms (Affiliates). The Company is an indirect subsidiary of Old Mutual plc, which is an investment, savings, insurance and banking group. The Company’s Affiliates include Acadian Asset Management LLC (Acadian), Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley), Campbell Global, LLC (Campbell Global), Copper Rock Capital Partners LLC, Heitman LLC, Investment Counselors of Maryland, LLC and Thompson, Siegel & Walmsley LLC.
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