OM Asset Management PLC’s (OMAM) “Buy” Rating Reaffirmed at Citigroup Inc.
OM Asset Management PLC (NYSE:OMAM)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc. in a report issued on Tuesday.
Several other brokerages 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 note on Thursday, October 6th. Keefe, Bruyette & Woods set a $17.50 price target on shares of OM Asset Management PLC and gave the stock a “buy” rating in a research note on Friday, August 5th. Morgan Stanley set a $15.00 price target on shares of OM Asset Management PLC and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of OM Asset Management PLC in a research note on Wednesday, August 31st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. OM Asset Management PLC presently has a consensus rating of “Buy” and an average price target of $17.21.
OM Asset Management PLC (NYSE:OMAM) traded up 0.50% on Tuesday, reaching $14.07. The company had a trading volume of 67,951 shares. OM Asset Management PLC has a 12-month low of $10.27 and a 12-month high of $17.04. The stock’s 50 day moving average price is $13.58 and its 200-day moving average price is $13.77. The stock has a market capitalization of $1.69 billion, a PE ratio of 12.19 and a beta of 1.86.
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OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $156.50 million for 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 company’s revenue was down 26.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. Equities analysts expect that OM Asset Management PLC will post $1.21 earnings per share for the current fiscal year.
The business also recently declared 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 of this dividend was Wednesday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 2.29%. OM Asset Management PLC’s dividend payout ratio is currently 27.59%.
Hedge funds have recently made changes to their positions in the stock. Springbok Capital Management LLC bought a new stake in shares of OM Asset Management PLC during the first quarter worth about $113,000. Royal Bank of Canada bought a new stake in shares of OM Asset Management PLC during the second quarter worth about $124,000. Walleye Trading LLC bought a new stake in shares of OM Asset Management PLC during the second quarter worth about $132,000. Globeflex Capital L P bought a new stake in shares of OM Asset Management PLC during the second quarter worth about $134,000. Finally, Acrospire Investment Management LLC increased 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. Institutional investors own 32.60% of the company’s stock.
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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