Group (Uk) Ltd Om Sells 15,960,553 Shares of OM Asset Management PLC (OMAM) Stock
OM Asset Management PLC (NYSE:OMAM) major shareholder Group (Uk) Ltd Om sold 15,960,553 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $15.75, for a total value of $251,378,709.75. Following the sale, the insider now owns 6,040,630 shares in the company, valued at $95,139,922.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
OM Asset Management PLC (OMAM) traded up $0.03 during trading on Tuesday, hitting $16.07. The company’s stock had a trading volume of 784,100 shares, compared to its average volume of 545,190. The company has a market cap of $1,759.92, a PE ratio of 10.55, a price-to-earnings-growth ratio of 0.75 and a beta of 1.74. OM Asset Management PLC has a 52-week low of $13.20 and a 52-week high of $16.14. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.65 and a quick ratio of 1.65.
OM Asset Management PLC (NYSE:OMAM) last posted its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The firm had revenue of $228.20 million for the quarter, compared to analysts’ expectations of $220.50 million. OM Asset Management PLC had a return on equity of 111.76% and a net margin of 9.49%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. sell-side analysts expect that OM Asset Management PLC will post 1.58 earnings per share for the current fiscal year.
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Several brokerages recently commented on OMAM. ValuEngine upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued 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 target price on OM Asset Management PLC and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday, October 11th. Finally, Citigroup Inc. upped their target price on OM Asset Management PLC from $18.50 to $20.00 and gave the company a “buy” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.08.
Institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. boosted its holdings in shares of OM Asset Management PLC by 22.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock worth $119,000 after buying an additional 1,488 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of OM Asset Management PLC during the 2nd quarter worth approximately $156,000. SG Americas Securities LLC bought a new position in shares of OM Asset Management PLC during the 2nd quarter worth approximately $159,000. BlueCrest Capital Management Ltd bought a new position in shares of OM Asset Management PLC during the 2nd quarter worth approximately $168,000. Finally, First Quadrant L P CA bought a new position in shares of OM Asset Management PLC during the 2nd quarter worth approximately $178,000. Hedge funds and other institutional investors own 65.76% 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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