OM Asset Management (OMAM) Announces Quarterly Earnings Results

OM Asset Management (NYSE:OMAM) posted its quarterly earnings data on Thursday. The asset manager reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04, Bloomberg Earnings reports. The company had revenue of $252.30 million during the quarter, compared to analyst estimates of $240.25 million. OM Asset Management had a net margin of 9.49% and a return on equity of 114.45%. OM Asset Management’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share.

Shares of OM Asset Management (NYSE OMAM) traded down $0.55 on Thursday, hitting $17.34. 507,576 shares of the stock were exchanged, compared to its average volume of 574,629. The stock has a market capitalization of $1,970.58, a price-to-earnings ratio of 26.31, a P/E/G ratio of 0.64 and a beta of 1.76. OM Asset Management has a 1 year low of $13.20 and a 1 year high of $18.62. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.65 and a quick ratio of 1.65.

In other news, CAO Daniel K. Mahoney sold 2,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $15.94, for a total transaction of $31,880.00. Following the completion of the sale, the chief accounting officer now directly owns 7,493 shares of the company’s stock, valued at $119,438.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Linda T. Gibson sold 46,357 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $16.46, for a total transaction of $763,036.22. Following the sale, the executive vice president now directly owns 146,193 shares of the company’s stock, valued at $2,406,336.78. The disclosure for this sale can be found here. Insiders have sold 56,257 shares of company stock valued at $922,264 over the last three months. Insiders own 1.48% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in OMAM. Schwab Charles Investment Management Inc. raised its holdings in shares of OM Asset Management by 52.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 90,300 shares of the asset manager’s stock valued at $1,342,000 after acquiring an additional 31,200 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of OM Asset Management by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 220,725 shares of the asset manager’s stock valued at $3,279,000 after acquiring an additional 25,078 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of OM Asset Management by 19.2% in the second quarter. Legal & General Group Plc now owns 16,402 shares of the asset manager’s stock valued at $244,000 after acquiring an additional 2,638 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of OM Asset Management in the second quarter valued at about $156,000. Finally, Swiss National Bank raised its holdings in shares of OM Asset Management by 34.6% in the second quarter. Swiss National Bank now owns 126,560 shares of the asset manager’s stock valued at $1,881,000 after acquiring an additional 32,500 shares in the last quarter. Hedge funds and other institutional investors own 64.97% of the company’s stock.

Several research firms have commented on OMAM. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $22.00 price objective on shares of OM Asset Management in a research note on Tuesday, January 9th. Zacks Investment Research raised shares of OM Asset Management from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, October 11th. Sandler O’Neill set a $19.00 target price on shares of OM Asset Management and gave the company a “hold” rating in a research note on Thursday, January 11th. TheStreet raised shares of OM Asset Management from a “d” rating to a “c” rating in a research note on Monday, October 9th. Finally, Citigroup boosted their target price on shares of OM Asset Management from $18.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. OM Asset Management has a consensus rating of “Buy” and an average target price of $19.43.

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About OM Asset Management

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.

Earnings History for OM Asset Management (NYSE:OMAM)

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