OM Asset Management PLC (OMAM) Receives Buy Rating from Citigroup Inc.
OM Asset Management PLC (NYSE:OMAM)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a research note issued to investors on Tuesday.
A number of other research firms have also recently weighed in on OMAM. Zacks Investment Research cut shares of OM Asset Management PLC from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 6th. Credit Suisse Group AG restated a “buy” rating on shares of OM Asset Management PLC in a research report on Wednesday, August 31st. Morgan Stanley set a $15.00 price objective on shares of OM Asset Management PLC and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Keefe, Bruyette & Woods set a $17.50 target price on shares of OM Asset Management PLC and gave the stock a “buy” rating in a report on Friday, August 5th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.21.
OM Asset Management PLC (NYSE:OMAM) traded up 0.64% during midday trading on Tuesday, hitting $14.09. 67,398 shares of the stock traded hands. The firm has a market cap of $1.69 billion, a PE ratio of 12.21 and a beta of 1.86. OM Asset Management PLC has a 52-week low of $10.27 and a 52-week high of $17.04. The stock has a 50-day moving average of $13.58 and a 200 day moving average of $13.77.
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OM Asset Management PLC (NYSE:OMAM) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The company earned $156.50 million during the quarter, compared to analysts’ expectations of $162.22 million. OM Asset Management PLC had a net margin of 22.02% and a return on equity of 87.34%. The firm’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Equities analysts forecast that OM Asset Management PLC will post $1.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, September 14th. OM Asset Management PLC’s dividend payout ratio is currently 27.59%.
Several large investors have recently made changes to their positions in the stock. Springbok Capital Management LLC purchased a new stake in shares of OM Asset Management PLC during the first quarter worth about $113,000. Royal Bank of Canada purchased a new stake in shares of OM Asset Management PLC during the second quarter worth about $124,000. Walleye Trading LLC purchased a new stake in shares of OM Asset Management PLC during the second quarter worth about $132,000. Globeflex Capital L P purchased a new stake in shares of OM Asset Management PLC during the second quarter worth about $134,000. Finally, Acrospire Investment Management LLC raised its stake in shares of OM Asset Management PLC by 461.5% in the second quarter. Acrospire Investment Management LLC now owns 11,680 shares of the company’s stock worth $156,000 after buying an additional 9,600 shares in the last quarter. 32.60% of the stock is owned by hedge funds and other institutional investors.
OM Asset Management PLC Company Profile
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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