Insider Selling: OM Asset Management PLC (NYSE:OMAM) CEO Sells 145,842 Shares of Stock
OM Asset Management PLC (NYSE:OMAM) CEO Peter L. Bain sold 145,842 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $14.42, for a total value of $2,103,041.64. Following the completion of the transaction, the chief executive officer now directly owns 778,474 shares in the company, valued at approximately $11,225,595.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
OM Asset Management PLC (NYSE OMAM) traded up 0.21% during trading on Monday, reaching $14.32. The company had a trading volume of 762,099 shares. The firm’s 50 day moving average is $14.98 and its 200-day moving average is $14.84. OM Asset Management PLC has a 12 month low of $12.10 and a 12 month high of $16.01. The company has a market capitalization of $1.64 billion, a P/E ratio of 14.61 and a beta of 1.71.
OM Asset Management PLC (NYSE:OMAM) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. OM Asset Management PLC had a return on equity of 34.62% and a net margin of 6.22%. The firm had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $211.67 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, equities analysts expect that OM Asset Management PLC will post $1.54 earnings per share for the current year.
OM Asset Management PLC declared that its Board of Directors has authorized a share buyback plan on Monday, May 15th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through a private placement purchase. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, September 14th. OM Asset Management PLC’s payout ratio is currently 45.57%.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of OM Asset Management PLC during the second quarter worth $159,000. Guggenheim Capital LLC purchased a new position in shares of OM Asset Management PLC during the fourth quarter worth $166,000. First Quadrant L P CA purchased a new position in shares of OM Asset Management PLC during the second quarter worth $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 last quarter. 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 last quarter. Hedge funds and other institutional investors own 46.24% of the company’s stock.
Several equities analysts recently issued reports on OMAM shares. ValuEngine raised OM Asset Management PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $17.50 target price on shares of OM Asset Management PLC in a research note on Friday. Royal Bank Of Canada set a $18.00 target price on OM Asset Management PLC and gave the stock a “buy” rating in a research note on Thursday. Finally, BidaskClub raised OM Asset Management PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. OM Asset Management PLC has an average rating of “Buy” and a consensus price target of $17.50.
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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