OM Asset Management PLC (OMAM) Now Covered by Royal Bank Of Canada
Stock analysts at Royal Bank Of Canada started coverage on shares of OM Asset Management PLC (NYSE:OMAM) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the asset manager’s stock.
A number of other research firms have also recently weighed in on OMAM. Credit Suisse Group set a $17.00 price target on OM Asset Management PLC and gave the stock a “buy” rating in a report on Monday, March 27th. Zacks Investment Research cut OM Asset Management PLC from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of OM Asset Management PLC in a report on Thursday, April 6th. Evercore ISI reiterated an “outperform” rating on shares of OM Asset Management PLC in a report on Monday, April 3rd. Finally, Wells Fargo & Company upgraded OM Asset Management PLC from a “market perform” rating to an “outperform” rating and set a $17.00 price target for the company in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. OM Asset Management PLC presently has a consensus rating of “Buy” and a consensus target price of $16.90.
Shares of OM Asset Management PLC (NYSE OMAM) traded up 0.07% during mid-day trading on Thursday, reaching $15.15. The company had a trading volume of 1,192,891 shares. The stock’s 50-day moving average price is $14.53 and its 200 day moving average price is $14.74. OM Asset Management PLC has a 1-year low of $12.10 and a 1-year high of $16.01. The company has a market capitalization of $1.74 billion, a PE ratio of 15.46 and a beta of 1.72.
OM Asset Management PLC (NYSE:OMAM) last issued its earnings results on Thursday, May 4th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. The company had revenue of $198.80 million during the quarter, compared to analysts’ expectations of $196.70 million. OM Asset Management PLC had a return on equity of 81.34% and a net margin of 16.48%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Equities analysts expect that OM Asset Management PLC will post $1.52 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a dividend of $0.09 per share. This is a positive change from OM Asset Management PLC’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.36 annualized dividend and a yield of 2.38%. OM Asset Management PLC’s dividend payout ratio is presently 36.74%.
In related news, CFO Stephen Belgrad sold 27,292 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $15.00, for a total transaction of $409,380.00. Following the transaction, the chief financial officer now owns 223,417 shares of the company’s stock, valued at approximately $3,351,255. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Peter L. Bain sold 134,251 shares of the stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $14.99, for a total value of $2,012,422.49. Following the completion of the sale, the chief executive officer now directly owns 922,357 shares in the company, valued at approximately $13,826,131.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,094,767 shares of company stock worth $365,217,030. 1.48% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Guggenheim Capital LLC bought a new stake in OM Asset Management PLC during the fourth quarter worth about $166,000. Nine Chapters Capital Management LLC raised its stake in OM Asset Management PLC by 20.7% in the first quarter. Nine Chapters Capital Management LLC now owns 14,000 shares of the asset manager’s stock worth $212,000 after buying an additional 2,400 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in OM Asset Management PLC during the first quarter worth about $245,000. Mckinley Capital Management LLC Delaware bought a new stake in OM Asset Management PLC during the first quarter worth about $339,000. Finally, American International Group Inc. raised its stake in OM Asset Management PLC by 7.1% in the first quarter. American International Group Inc. now owns 24,712 shares of the asset manager’s stock worth $374,000 after buying an additional 1,637 shares in the last quarter. 46.23% of the stock is currently owned by institutional investors.
About OM Asset Management PLC
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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