OM Asset Management PLC (NYSE:OMAM) PT Set at $18.00 by Royal Bank Of Canada
OM Asset Management PLC (NYSE:OMAM) received a $18.00 target price from investment analysts at Royal Bank Of Canada in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the asset manager’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 25.96% from the company’s previous close.
Several other research firms have also issued reports on OMAM. BidaskClub lowered shares of OM Asset Management PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. ValuEngine downgraded shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Wells Fargo & Company raised shares of OM Asset Management PLC from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research report on Monday, June 5th. Finally, Credit Suisse Group reissued a “buy” rating and set a $19.00 target price on shares of OM Asset Management PLC in a research report on Friday, April 7th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $17.50.
OM Asset Management PLC (NYSE:OMAM) traded down 1.45% during midday trading on Thursday, hitting $14.29. The stock had a trading volume of 874,867 shares. The company’s 50-day moving average price is $14.98 and its 200 day moving average price is $14.84. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01. The stock has a market cap of $1.64 billion, a P/E ratio of 14.58 and a beta of 1.71.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.67 million. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 86.89%. OM Asset Management PLC’s revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities research analysts predict that OM Asset Management PLC will post $1.54 earnings per share for the current fiscal year.
OM Asset Management PLC announced that its Board of Directors has authorized a stock buyback plan on Monday, May 15th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the asset manager to buy shares of its stock through a private placement purchase. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other OM Asset Management PLC news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $14.55, for a total transaction of $37,757,250.00. Following the completion of the sale, the insider now owns 22,001,183 shares of the company’s stock, valued at approximately $320,117,212.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.48% of the company’s stock.
Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of OM Asset Management PLC during the second quarter worth about $159,000. Guggenheim Capital LLC acquired a new position in shares of OM Asset Management PLC during the fourth quarter worth about $166,000. First Quadrant L P CA acquired a new position in shares of OM Asset Management PLC during the second quarter worth about $178,000. Nine Chapters Capital Management LLC boosted its position in shares of 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 during the period. Finally, Legal & General Group Plc boosted its position in shares of OM Asset Management PLC by 19.2% in the second quarter. Legal & General Group Plc now owns 16,402 shares of the asset manager’s stock worth $244,000 after buying an additional 2,638 shares during the period. 46.04% of the stock is owned by hedge funds and other institutional investors.
OM Asset Management PLC Company 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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