OM Asset Management PLC (OMAM) Raised to Hold at Zacks Investment Research

OM Asset Management PLC (NYSE:OMAM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, April 14th.

According to Zacks, “OM Asset Management plc operates as a multi-boutique asset management company. It provides its services to individuals and institutions. The Company offers products in domestic and international equities, fixed income, and alternative investments, such as timber and real estate. OM Asset Management plc is based Boston, Massachusetts. “

OMAM has been the topic of a number of other research reports. Credit Suisse Group AG set a $17.00 price target on OM Asset Management PLC and gave the stock a “buy” rating in a report on Monday, March 27th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of OM Asset Management PLC in a report on Thursday, April 6th. Finally, Evercore ISI reiterated an “outperform” rating on shares of OM Asset Management PLC in a report on Monday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.50.

Analyst Recommendations for OM Asset Management PLC (NYSE:OMAM)

OM Asset Management PLC (NYSE:OMAM) traded up 2.221% during trading on Friday, hitting $14.495. The stock had a trading volume of 422,467 shares. The company has a market cap of $1.66 billion, a PE ratio of 14.791 and a beta of 1.76. The company’s 50 day moving average is $15.10 and its 200-day moving average is $14.67. 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 quarterly earnings results on Thursday, May 4th. The asset manager reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $198.80 million for the quarter, compared to analysts’ expectations of $196.70 million. OM Asset Management PLC had a return on equity of 75.43% and a net margin of 19.05%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, equities research analysts predict that OM Asset Management PLC will post $1.50 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This is an increase from OM Asset Management PLC’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 2.54%. OM Asset Management PLC’s dividend payout ratio (DPR) is currently 30.48%.

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In other news, CFO Stephen Belgrad sold 5,487 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $14.86, for a total transaction of $81,536.82. Following the completion of the sale, the chief financial officer now directly owns 226,417 shares in the company, valued at $3,364,556.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Linda T. Gibson sold 7,059 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $14.86, for a total value of $104,896.74. Following the sale, the executive vice president now owns 230,774 shares of the company’s stock, valued at $3,429,301.64. The disclosure for this sale can be found here. Insiders have sold 238,379 shares of company stock valued at $3,568,576 over the last 90 days. Insiders own 1.41% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of OM Asset Management PLC during the fourth quarter worth about $22,273,000. Columbia Wanger Asset Management LLC boosted its position in shares of OM Asset Management PLC by 164.4% in the fourth quarter. Columbia Wanger Asset Management LLC now owns 1,557,519 shares of the asset manager’s stock worth $22,584,000 after buying an additional 968,521 shares in the last quarter. Norges Bank acquired a new position in shares of OM Asset Management PLC during the fourth quarter worth about $11,248,000. Globeflex Capital L P acquired a new position in shares of OM Asset Management PLC during the first quarter worth about $9,845,000. Finally, Wells Fargo & Company MN boosted its position in shares of OM Asset Management PLC by 168.8% in the first quarter. Wells Fargo & Company MN now owns 831,340 shares of the asset manager’s stock worth $12,570,000 after buying an additional 522,089 shares in the last quarter. 36.45% of the stock is currently owned by hedge funds and other institutional investors.

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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