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

Zacks Investment Research cut shares of OM Asset Management PLC (NYSE:OMAM) from a buy rating to a hold rating in a research note published on Wednesday morning.

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. “

A number of other brokerages have also commented on OMAM. TheStreet raised OM Asset Management PLC from a d rating to a c rating in a research note on Monday, October 9th. Royal Bank Of Canada set a $18.00 price target on OM Asset Management PLC and gave the company a buy rating in a research note on Wednesday, October 18th. BidaskClub lowered OM Asset Management PLC from a hold rating to a sell rating in a research note on Tuesday, July 25th. ValuEngine raised OM Asset Management PLC from a hold rating to a buy rating in a research note on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $17.50 price objective on shares of OM Asset Management PLC in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. OM Asset Management PLC presently has an average rating of Buy and an average price target of $18.08.

OM Asset Management PLC (NYSE OMAM) opened at $15.75 on Wednesday. The company has a market capitalization of $1,728.09, a price-to-earnings ratio of 10.36, a PEG ratio of 0.74 and a beta of 1.74.

OM Asset Management PLC (NYSE:OMAM) last announced its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. OM Asset Management PLC had a return on equity of 110.15% and a net margin of 9.49%. The company had revenue of $228.20 million during the quarter, compared to analyst estimates of $220.50 million. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. sell-side analysts anticipate that OM Asset Management PLC will post 1.57 EPS for the current year.

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In other news, CEO Peter L. Bain sold 111,612 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 596,862 shares in the company, valued at $8,553,032.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert J. Chersi purchased 7,500 shares of OM Asset Management PLC stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $13.48 per share, for a total transaction of $101,100.00. Following the completion of the acquisition, the director now owns 12,971 shares of the company’s stock, valued at approximately $174,849.08. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 574,760 shares of company stock worth $8,126,542. Company insiders own 1.48% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of OMAM. Oppenheimer Asset Management Inc. raised its holdings 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 period. Principal Financial Group Inc. purchased a new position in OM Asset Management PLC during the 2nd quarter worth $156,000. SG Americas Securities LLC purchased a new position in OM Asset Management PLC during the 2nd quarter worth $159,000. BlueCrest Capital Management Ltd purchased a new position in OM Asset Management PLC during the 2nd quarter worth $168,000. Finally, First Quadrant L P CA purchased a new position in OM Asset Management PLC during the 2nd quarter worth $178,000. Hedge funds and other institutional investors own 66.03% of the company’s stock.

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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