Prudential Financial Inc. cut its position in OM Asset Management PLC (NYSE:OMAM) by 44.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,620 shares of the asset manager’s stock after selling 138,340 shares during the quarter. Prudential Financial Inc. owned 0.16% of OM Asset Management worth $2,590,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of OM Asset Management 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 purchasing an additional 1,488 shares during the period. Principal Financial Group Inc. purchased a new position in shares of OM Asset Management in the second quarter valued at $156,000. SG Americas Securities LLC purchased a new position in shares of OM Asset Management in the second quarter valued at $159,000. BlueCrest Capital Management Ltd purchased a new position in shares of OM Asset Management in the second quarter valued at $168,000. Finally, Legal & General Group Plc boosted its stake in shares of OM Asset Management by 19.2% in the second quarter. Legal & General Group Plc now owns 16,402 shares of the asset manager’s stock valued at $244,000 after purchasing an additional 2,638 shares during the period. Institutional investors and hedge funds own 64.97% of the company’s stock.
Several brokerages have recently weighed in on OMAM. Zacks Investment Research upgraded shares of OM Asset Management from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, November 9th. Citigroup increased their price objective on shares of OM Asset Management from $18.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. ValuEngine upgraded shares of OM Asset Management from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Royal Bank Of Canada set a $18.00 price objective on shares of OM Asset Management and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, TheStreet upgraded shares of OM Asset Management from a “d” rating to a “c” rating in a research note on Monday, October 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $18.08.
OM Asset Management PLC (OMAM) traded up $0.07 during midday trading on Monday, reaching $16.47. 910,600 shares of the company’s stock were exchanged, compared to its average volume of 560,796. OM Asset Management PLC has a 12-month low of $13.20 and a 12-month high of $16.68. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 3.23. The company has a market cap of $1,807.09, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 0.77 and a beta of 1.76.
OM Asset Management (NYSE:OMAM) last posted its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. OM Asset Management had a net margin of 9.49% and a return on equity of 114.45%. The firm had revenue of $228.20 million for the quarter, compared to the consensus estimate of $220.50 million. During the same period in the prior year, the firm posted $0.32 EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. research analysts predict that OM Asset Management PLC will post 1.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.36 dividend on an annualized basis and a yield of 2.19%. OM Asset Management’s dividend payout ratio (DPR) is 52.94%.
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OM Asset Management 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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