OM Asset Management PLC (NYSE:OMAM) Director Robert J. Chersi purchased 7,500 shares of the stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $13.48 per share, for a total transaction of $101,100.00. Following the completion of the transaction, the director now owns 12,971 shares of the company’s stock, valued at approximately $174,849.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
OM Asset Management PLC (NYSE:OMAM) traded down 3.35% during midday trading on Thursday, reaching $13.26. The company had a trading volume of 548,809 shares. OM Asset Management PLC has a one year low of $12.10 and a one year high of $16.01. The stock’s 50 day moving average price is $14.77 and its 200-day moving average price is $14.81. The firm has a market capitalization of $1.45 billion, a P/E ratio of 16.76 and a beta of 1.71.
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, beating the Zacks’ 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 95.51%. The business had revenue of $218.80 million for the quarter, compared to analyst estimates of $211.67 million. During the same quarter in the prior year, the business earned $0.30 EPS. OM Asset Management PLC’s quarterly revenue was up 39.8% on a year-over-year basis. On average, equities research analysts anticipate that OM Asset Management PLC will post $1.54 earnings per share for the current year.
OM Asset Management PLC declared that its Board of Directors has initiated a share buyback program on Monday, May 15th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the asset manager to buy shares of its stock through a private placement purchase. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.71%. OM Asset Management PLC’s payout ratio is presently 45.57%.
Several hedge funds and other institutional investors have recently made changes to their positions in OMAM. Oppenheimer Asset Management Inc. raised its position 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 worth $119,000 after buying an additional 1,488 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of OM Asset Management PLC during the second quarter worth about $156,000. SG Americas Securities LLC acquired a new position in shares of OM Asset Management PLC during the second quarter worth about $159,000. Guggenheim Capital LLC acquired a new position in shares of OM Asset Management PLC during the fourth quarter worth about $166,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of OM Asset Management PLC during the second quarter worth about $168,000. Hedge funds and other institutional investors own 47.94% of the company’s stock.
OMAM has been the topic of several research analyst reports. Royal Bank Of Canada initiated coverage on OM Asset Management PLC in a research report on Thursday, June 29th. They issued an “outperform” rating and a $18.00 price target on the stock. Wells Fargo & Company raised OM Asset Management PLC from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Monday, June 5th. BidaskClub raised OM Asset Management PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. ValuEngine raised OM Asset Management PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Zacks Investment Research downgraded OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target 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.
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