OM Asset Management PLC (NYSE:OMAM) Rating Reiterated by Keefe, Bruyette & Woods
OM Asset Management PLC (NYSE:OMAM)‘s stock had its “buy” rating restated by investment analysts at Keefe, Bruyette & Woods in a research note issued on Friday. They currently have a $17.50 price objective on the asset manager’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 22.46% from the stock’s current price.
Several other brokerages have also recently issued reports on OMAM. Zacks Investment Research cut OM Asset Management PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Wells Fargo & Company raised OM Asset Management PLC from a “market perform” rating to an “outperform” rating and set a $17.00 price objective for the company in a report on Monday, June 5th. BidaskClub raised OM Asset Management PLC from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Royal Bank Of Canada set a $18.00 price objective on OM Asset Management PLC and gave the company a “buy” rating in a report on Thursday. Finally, ValuEngine raised OM Asset Management PLC from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.08.
OM Asset Management PLC (NYSE:OMAM) opened at 14.29 on Friday. The stock has a 50 day moving average price of $14.98 and a 200 day moving average price of $14.84. The company has a market cap of $1.64 billion, a P/E ratio of 14.58 and a beta of 1.71. OM Asset Management PLC has a 1-year low of $12.10 and a 1-year high of $16.01.
OM Asset Management PLC (NYSE:OMAM) last posted its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The business had revenue of $218.80 million for the quarter, compared to the consensus estimate of $211.67 million. OM Asset Management PLC had a return on equity of 86.89% and a net margin of 12.12%. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. On average, equities research analysts anticipate that OM Asset Management PLC will post $1.54 EPS for the current fiscal year.
OM Asset Management PLC declared that its Board of Directors has initiated a stock buyback plan on Monday, May 15th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through a private placement purchase. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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In related news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $14.55, for a total value of $37,757,250.00. Following the completion of the transaction, the insider now owns 22,001,183 shares of the company’s stock, valued at approximately $320,117,212.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.48% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in OM Asset Management PLC during the fourth quarter worth $11,248,000. Globeflex Capital L P acquired a new position in OM Asset Management PLC during the first quarter worth $9,845,000. Jennison Associates LLC acquired a new position in OM Asset Management PLC during the second quarter worth $8,059,000. Wells Fargo & Company MN boosted its position in OM Asset Management PLC by 168.8% in the first quarter. Wells Fargo & Company MN now owns 831,340 shares of the asset manager’s stock worth $12,570,000 after buying an additional 522,089 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in OM Asset Management PLC by 298.7% in the first quarter. JPMorgan Chase & Co. now owns 502,722 shares of the asset manager’s stock worth $7,601,000 after buying an additional 376,637 shares during the last quarter. 46.04% of the stock is 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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