Citigroup Inc. Increases OM Asset Management PLC (OMAM) Price Target to $20.00

OM Asset Management PLC (NYSE:OMAM) had its price objective lifted by Citigroup Inc. from $18.50 to $20.00 in a report issued on Friday. The firm currently has a “buy” rating on the asset manager’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 26.98% from the company’s previous close.

Several other research firms also recently weighed in on OMAM. BidaskClub raised OM Asset Management PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada set a $18.00 target price on OM Asset Management PLC and gave the company a “buy” rating in a research report on Wednesday, October 18th. TheStreet raised OM Asset Management PLC from a “d” rating to a “c” rating in a research report on Monday, October 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $17.50 target price on shares of OM Asset Management PLC in a research report on Tuesday, September 5th. Finally, Zacks Investment Research downgraded OM Asset Management PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. OM Asset Management PLC presently has a consensus rating of “Buy” and an average price target of $18.08.

Shares of OM Asset Management PLC (NYSE:OMAM) traded up $0.36 on Friday, hitting $15.75. The stock had a trading volume of 355,809 shares, compared to its average volume of 366,603. The firm has a market capitalization of $1.73 billion, a PE ratio of 10.35 and a beta of 1.74.

OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business 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 110.15% and a net margin of 9.49%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. research analysts predict that OM Asset Management PLC will post 1.57 EPS for the current fiscal year.

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In other OM Asset Management PLC news, CEO Peter L. Bain sold 111,612 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $14.33, for a total value of $1,599,399.96. Following the transaction, the chief executive officer now owns 596,862 shares of the company’s stock, valued at approximately $8,553,032.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert J. Chersi acquired 7,500 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 12,971 shares in the company, valued at $174,849.08. The disclosure for this purchase can be found here. In the last three months, insiders have sold 574,760 shares of company stock worth $8,126,542. Corporate insiders own 1.48% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Jennison Associates LLC grew its position in OM Asset Management PLC by 66.7% in the 3rd quarter. Jennison Associates LLC now owns 904,246 shares of the asset manager’s stock valued at $13,491,000 after acquiring an additional 361,946 shares during the last quarter. Swiss National Bank grew its position in OM Asset Management PLC by 6.1% in the 3rd quarter. Swiss National Bank now owns 134,260 shares of the asset manager’s stock valued at $2,003,000 after acquiring an additional 7,700 shares during the last quarter. Lord Abbett & CO. LLC grew its position in OM Asset Management PLC by 2.4% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,493,000 shares of the asset manager’s stock valued at $22,186,000 after acquiring an additional 35,200 shares during the last quarter. California State Teachers Retirement System grew its position in OM Asset Management PLC by 23.9% in the 2nd quarter. California State Teachers Retirement System now owns 97,942 shares of the asset manager’s stock valued at $1,455,000 after acquiring an additional 18,900 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in OM Asset Management PLC by 36.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,904 shares of the asset manager’s stock valued at $607,000 after acquiring an additional 10,845 shares during the last quarter. 66.03% of the stock is currently owned by institutional investors.

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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