BidaskClub Downgrades OM Asset Management PLC (NYSE:OMAM) to Strong Sell
BidaskClub lowered shares of OM Asset Management PLC (NYSE:OMAM) from a sell rating to a strong sell rating in a report issued on Saturday.
Other analysts have also recently issued research reports about the company. Credit Suisse Group reissued a buy rating and set a $19.00 price objective on shares of OM Asset Management PLC in a report on Friday, April 7th. Keefe, Bruyette & Woods reissued a buy rating and set a $17.50 price objective on shares of OM Asset Management PLC in a report on Friday. Royal Bank Of Canada set a $18.00 price objective on OM Asset Management PLC and gave the stock a buy rating in a report on Thursday, August 3rd. ValuEngine raised OM Asset Management PLC from a hold rating to a buy rating in a report on Tuesday, June 20th. Finally, Zacks Investment Research raised OM Asset Management PLC from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $17.50.
OM Asset Management PLC (NYSE:OMAM) opened at 14.32 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of 14.61 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. The company has a 50-day moving average price of $14.98 and a 200-day moving average price of $14.84.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings data on Thursday, August 3rd. The asset manager reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $218.80 million for the quarter, compared to analysts’ expectations of $211.67 million. OM Asset Management PLC had a return on equity of 86.89% and a net margin of 12.12%. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities research analysts forecast that OM Asset Management PLC will post $1.54 EPS for the current fiscal year.
OM Asset Management PLC announced that its board has authorized a stock repurchase plan on Monday, May 15th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the asset manager to reacquire 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.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 annualized dividend and a dividend yield of 2.51%. OM Asset Management PLC’s payout ratio is currently 45.57%.
In other news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $14.55, for a total transaction of $37,757,250.00. Following the transaction, the insider now directly owns 22,001,183 shares in the company, valued at approximately $320,117,212.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter L. Bain sold 145,842 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $14.42, for a total value of $2,103,041.64. Following the transaction, the chief executive officer now owns 778,474 shares in the company, valued at $11,225,595.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,040,842 shares of company stock worth $364,325,292. Insiders own 1.48% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of OM Asset Management PLC during the second quarter valued at approximately $159,000. Guggenheim Capital LLC purchased a new position in shares of OM Asset Management PLC during the fourth quarter valued at approximately $166,000. First Quadrant L P CA purchased a new position in shares of OM Asset Management PLC during the second quarter valued at approximately $178,000. Nine Chapters Capital Management LLC raised its position in shares of OM Asset Management PLC by 20.7% in the first quarter. Nine Chapters Capital Management LLC now owns 14,000 shares of the asset manager’s stock valued at $212,000 after buying an additional 2,400 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of OM Asset Management PLC during the first quarter valued at approximately $245,000. Hedge funds and other institutional investors own 46.24% of the company’s stock.
OM Asset Management PLC Company 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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