Insider Selling: OM Asset Management PLC (NYSE:OMAM) CEO Sells $1,297,520.32 in Stock

OM Asset Management PLC (NYSE:OMAM) CEO Peter L. Bain sold 91,118 shares of OM Asset Management PLC stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $14.24, for a total transaction of $1,297,520.32. Following the completion of the transaction, the chief executive officer now directly owns 596,862 shares in the company, valued at $8,499,314.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of OM Asset Management PLC (NYSE OMAM) opened at 13.80 on Friday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 17.36 and a beta of 1.71. The stock’s 50 day moving average is $14.86 and its 200-day moving average is $14.82. OM Asset Management PLC has a one year low of $12.10 and a one year high of $16.01.

OM Asset Management PLC (NYSE:OMAM) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 86.89%. The firm had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.67 million. During the same period last year, the business earned $0.30 EPS. OM Asset Management PLC’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, equities research analysts predict that OM Asset Management PLC will post $1.54 EPS for the current fiscal year.

OM Asset Management PLC announced that its Board of Directors has approved a stock buyback program on Monday, May 15th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through a private placement purchase. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 2.61%. OM Asset Management PLC’s dividend payout ratio is currently 45.57%.

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A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of OM Asset Management PLC by 1.0% in the first quarter. Bank of America Corp DE now owns 139,704 shares of the asset manager’s stock valued at $2,112,000 after buying an additional 1,362 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of 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 buying an additional 1,488 shares in the last quarter. American International Group Inc. raised its stake in shares of OM Asset Management PLC by 7.1% in the first quarter. American International Group Inc. now owns 24,712 shares of the asset manager’s stock valued at $374,000 after buying an additional 1,637 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of OM Asset Management PLC by 5.7% in the second quarter. Parametric Portfolio Associates LLC now owns 37,032 shares of the asset manager’s stock valued at $550,000 after buying an additional 1,981 shares in the last quarter. Finally, Nine Chapters Capital Management LLC raised its stake in shares of OM Asset Management PLC by 20.7% in the first quarter. Nine Chapters Capital Management LLC now owns 14,000 shares of the asset manager’s stock valued at $212,000 after buying an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 46.24% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered shares of OM Asset Management PLC from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $17.50 price target on shares of OM Asset Management PLC in a report on Friday, August 4th. Royal Bank Of Canada set a $18.00 price target on shares of OM Asset Management PLC and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, ValuEngine raised shares of OM Asset Management PLC from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.50.

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.

Insider Buying and Selling by Quarter for OM Asset Management PLC (NYSE:OMAM)

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