OM Asset Management PLC (OMAM) Downgraded to “Hold” at Zacks Investment Research
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. “
Several other equities research analysts have also issued reports on OMAM. Citigroup Inc. reissued a buy rating and set a $20.00 target price (up from $18.00) on shares of OM Asset Management PLC in a research note on Wednesday, June 15th. Morgan Stanley reissued a hold rating on shares of OM Asset Management PLC in a research note on Wednesday, June 15th. Credit Suisse Group AG reaffirmed a buy rating on shares of OM Asset Management PLC in a research note on Wednesday, June 15th. TheStreet raised shares of OM Asset Management PLC from a sell rating to a hold rating in a research note on Thursday, June 16th. Finally, Keefe, Bruyette & Woods set a $17.50 price target on shares of OM Asset Management PLC and gave the company a buy rating in a research note on Friday, August 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $17.21.
Shares of OM Asset Management PLC (NYSE:OMAM) traded down 0.743% on Thursday, hitting $14.035. The company’s stock had a trading volume of 9,313 shares. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 12.162 and a beta of 1.86. OM Asset Management PLC has a one year low of $10.27 and a one year high of $17.04. The stock has a 50-day moving average price of $13.49 and a 200 day moving average price of $13.70.
OM Asset Management PLC (NYSE:OMAM) last posted its earnings results on Thursday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. OM Asset Management PLC had a net margin of 22.02% and a return on equity of 87.34%. The business had revenue of $156.50 million for the quarter, compared to analyst estimates of $162.22 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. Equities research analysts predict that OM Asset Management PLC will post $1.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.32 dividend on an annualized basis and a yield of 2.26%. OM Asset Management PLC’s payout ratio is 27.59%.
Hedge funds have recently added to or reduced their stakes in the stock. Springbok Capital Management LLC acquired a new stake in OM Asset Management PLC during the first quarter worth approximately $113,000. Royal Bank of Canada acquired a new stake in OM Asset Management PLC during the second quarter worth approximately $124,000. Walleye Trading LLC acquired a new stake in OM Asset Management PLC during the second quarter worth approximately $132,000. Globeflex Capital L P acquired a new stake in OM Asset Management PLC during the second quarter worth approximately $134,000. Finally, Acrospire Investment Management LLC increased its stake in OM Asset Management PLC by 461.5% in the second quarter. Acrospire Investment Management LLC now owns 11,680 shares of the company’s stock worth $156,000 after buying an additional 9,600 shares during the last quarter. Institutional investors own 32.60% of the company’s stock.
OM Asset Management PLC Company Profile
OM Asset Management plc is a multi-boutique asset management company. The Company operates its business through its approximately seven affiliate firms (Affiliates). The Company is an indirect subsidiary of Old Mutual plc, which is an investment, savings, insurance and banking group. The Company’s Affiliates include Acadian Asset Management LLC (Acadian), Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley), Campbell Global, LLC (Campbell Global), Copper Rock Capital Partners LLC, Heitman LLC, Investment Counselors of Maryland, LLC and Thompson, Siegel & Walmsley LLC.
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