OM Asset Management PLC (OMAM) Declares Quarterly Dividend of $0.09
OM Asset Management PLC (NYSE:OMAM) announced a quarterly dividend on Friday, August 4th, Zacks reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.09 per share by the asset manager on Friday, September 29th. This represents a $0.36 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Thursday, September 14th.
OM Asset Management PLC has a dividend payout ratio of 23.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OM Asset Management PLC to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 21.8%.
OM Asset Management PLC (NYSE:OMAM) traded up 0.07% during midday trading on Friday, hitting $13.52. 361,233 shares of the stock traded hands. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 17.09 and a beta of 1.72. The firm’s 50-day moving average is $14.04 and its 200-day moving average is $14.67. OM Asset Management PLC has a 52-week low of $12.10 and a 52-week high of $16.01.
OM Asset Management PLC (NYSE:OMAM) last issued its earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The firm had revenue of $218.80 million during 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 95.51%. The business’s revenue was up 39.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. Analysts predict that OM Asset Management PLC will post $1.54 EPS for the current year.
OM Asset Management PLC announced that its Board of Directors has initiated a share buyback plan on Monday, May 15th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through a private placement purchase. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
A number of brokerages have recently issued reports on OMAM. Royal Bank Of Canada began coverage on shares of OM Asset Management PLC in a research note on Thursday, June 29th. They set an “outperform” rating and a $18.00 target price for the company. BidaskClub raised shares of OM Asset Management PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research raised shares of OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, June 27th. ValuEngine raised shares of OM Asset Management PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, 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, August 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. OM Asset Management PLC presently has a consensus rating of “Buy” and a consensus target price of $17.50.
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In related news, Director Robert J. Chersi acquired 7,500 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $13.48 per share, for a total transaction of $101,100.00. Following the completion of the acquisition, the director now directly owns 12,971 shares in the company, valued at approximately $174,849.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the company’s stock in a transaction dated 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 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. Over the last three months, insiders have sold 3,315,602 shares of company stock valued at $47,986,834. Insiders own 1.48% of the company’s stock.
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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