OM Asset Management PLC (OMAM) Given Consensus Rating of “Buy” by Brokerages
OM Asset Management PLC (NYSE:OMAM) has earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $17.88.
Several research firms recently issued reports on OMAM. Zacks Investment Research lowered OM Asset Management PLC from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered OM Asset Management PLC from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $17.50 target price on shares of OM Asset Management PLC in a report on Friday, August 4th. Royal Bank Of Canada set a $18.00 price objective on OM Asset Management PLC and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, ValuEngine upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/08/18/om-asset-management-plc-omam-given-consensus-rating-of-buy-by-brokerages.html.
In other news, Director Robert J. Chersi bought 7,500 shares of the stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $13.48 per share, for a total transaction of $101,100.00. Following the completion of the purchase, the director now owns 12,971 shares in the company, valued at $174,849.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $14.55, for a total value of $37,757,250.00. Following the transaction, the insider now owns 22,001,183 shares in the company, valued at approximately $320,117,212.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,315,602 shares of company stock worth $47,986,834. 1.48% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC raised its position in shares of OM Asset Management PLC by 4.8% in the second quarter. William Blair Investment Management LLC now owns 3,393,659 shares of the asset manager’s stock worth $50,430,000 after buying an additional 155,366 shares during the period. Neuberger Berman Group LLC raised its position in shares of OM Asset Management PLC by 20.5% in the second quarter. Neuberger Berman Group LLC now owns 2,956,298 shares of the asset manager’s stock worth $43,931,000 after buying an additional 502,805 shares during the period. Goldman Sachs Group Inc. raised its position in shares of OM Asset Management PLC by 13.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,899,248 shares of the asset manager’s stock worth $43,083,000 after buying an additional 346,124 shares during the period. Voya Investment Management LLC raised its position in shares of OM Asset Management PLC by 127.4% in the second quarter. Voya Investment Management LLC now owns 2,774,790 shares of the asset manager’s stock worth $41,233,000 after buying an additional 1,554,720 shares during the period. Finally, Deprince Race & Zollo Inc. raised its position in shares of OM Asset Management PLC by 2.1% in the second quarter. Deprince Race & Zollo Inc. now owns 2,148,598 shares of the asset manager’s stock worth $31,928,000 after buying an additional 45,141 shares during the period. Institutional investors own 47.94% of the company’s stock.
Shares of OM Asset Management PLC (OMAM) traded up 0.60% on Friday, hitting $13.34. The company had a trading volume of 370,087 shares. The firm has a 50 day moving average of $14.71 and a 200-day moving average of $14.80. The firm has a market capitalization of $1.46 billion, a P/E ratio of 16.86 and a beta of 1.71. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01.
OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. OM Asset Management PLC had a return on equity of 95.51% and a net margin of 12.12%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.67 million. During the same quarter in the prior year, the company posted $0.30 earnings per share. OM Asset Management PLC’s revenue was up 39.8% on a year-over-year basis. On average, equities analysts predict that OM Asset Management PLC will post $1.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 2.70%. OM Asset Management PLC’s dividend payout ratio is 45.57%.
OM Asset Management PLC announced that its board has initiated a stock repurchase plan on Monday, May 15th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows 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 leadership believes its shares are undervalued.
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.
Receive News & Ratings for OM Asset Management PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OM Asset Management PLC and related companies with MarketBeat.com's FREE daily email newsletter.