OM Asset Management PLC (OMAM) Price Target Raised to $20.00
OM Asset Management PLC (NYSE:OMAM) had its target price hoisted by research analysts at Citigroup Inc. from $18.50 to $20.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the asset manager’s stock. Citigroup Inc.’s price objective suggests a potential upside of 26.98% from the stock’s current price.
OMAM has been the topic of a number of other research reports. Zacks Investment Research upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, October 11th. ValuEngine upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub upgraded OM Asset Management PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. TheStreet upgraded OM Asset Management PLC from a “d” rating to a “c” rating in a research report on Monday, October 9th. Finally, Royal Bank Of Canada set a $18.00 price target on OM Asset Management PLC and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. OM Asset Management PLC currently has a consensus rating of “Buy” and an average target price of $18.08.
Shares of OM Asset Management PLC (OMAM) traded up $0.36 during trading hours on Friday, reaching $15.75. The company’s stock had a trading volume of 355,809 shares, compared to its average volume of 366,603. The firm has a market cap of $1.73 billion, a PE ratio of 10.35, a PEG ratio of 0.74 and a beta of 1.74.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. OM Asset Management PLC had a return on equity of 110.15% and a net margin of 9.49%. The company had revenue of $228.20 million for the quarter, compared to analysts’ expectations of $220.50 million. During the same quarter last year, the business earned $0.32 earnings per share. OM Asset Management PLC’s revenue was up 29.8% on a year-over-year basis. equities research analysts expect that OM Asset Management PLC will post 1.57 EPS for the current fiscal year.
In other OM Asset Management PLC news, Director Robert J. Chersi bought 7,500 shares of the firm’s stock in a transaction on 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 transaction, 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 at the SEC website. Also, CEO Peter L. Bain sold 111,612 shares of OM Asset Management PLC stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $14.33, for a total value of $1,599,399.96. Following the completion of the transaction, the chief executive officer now owns 596,862 shares in the company, valued at approximately $8,553,032.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 574,760 shares of company stock worth $8,126,542. Company insiders own 1.48% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. grew its position in OM Asset Management PLC by 22.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 1,488 shares during the last quarter. Principal Financial Group Inc. bought a new position in OM Asset Management PLC in the second quarter valued at about $156,000. SG Americas Securities LLC bought a new position in OM Asset Management PLC in the second quarter valued at about $159,000. BlueCrest Capital Management Ltd bought a new position in OM Asset Management PLC in the second quarter valued at about $168,000. Finally, First Quadrant L P CA bought a new position in OM Asset Management PLC in the second quarter valued at about $178,000. Hedge funds and other institutional investors own 66.03% of the company’s stock.
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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