OM Asset Management PLC (OMAM) Position Reduced by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its position in shares of OM Asset Management PLC (NYSE:OMAM) by 17.1% during the second quarter, Holdings Channel reports. The fund owned 1,093,855 shares of the asset manager’s stock after selling 224,980 shares during the period. Russell Investments Group Ltd.’s holdings in OM Asset Management PLC were worth $16,256,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guggenheim Capital LLC purchased a new position in OM Asset Management PLC during the fourth quarter worth $166,000. First Quadrant L P CA purchased a new position in OM Asset Management PLC during the second quarter worth $178,000. Nine Chapters Capital Management LLC boosted its position in 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 worth $212,000 after buying an additional 2,400 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in OM Asset Management PLC during the first quarter worth $245,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in OM Asset Management PLC during the second quarter worth $264,000. 46.24% of the stock is owned by institutional investors.
OM Asset Management PLC (NYSE:OMAM) traded down 1.96% during trading on Wednesday, reaching $13.98. 272,646 shares of the company were exchanged. The firm has a market capitalization of $1.60 billion, a PE ratio of 14.27 and a beta of 1.71. OM Asset Management PLC has a 12 month low of $12.10 and a 12 month high of $16.01. The stock has a 50 day moving average price of $14.96 and a 200 day moving average price of $14.83.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $211.67 million. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 86.89%. The business’s revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, analysts expect that OM Asset Management PLC will post $1.54 EPS for the current fiscal year.
OM Asset Management PLC declared that its board has authorized a stock buyback plan on Monday, May 15th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the asset manager to reacquire shares of its stock through a private placement purchase. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, September 14th. OM Asset Management PLC’s dividend payout ratio is presently 45.57%.
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A number of research firms have weighed in on OMAM. Zacks Investment Research cut shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $17.50 price objective on shares of OM Asset Management PLC in a report on Friday, August 4th. Royal Bank Of Canada set a $18.00 target price on shares of OM Asset Management PLC and gave the company a “buy” rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of OM Asset Management PLC from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, ValuEngine lowered shares of OM Asset Management PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two 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 company presently has an average rating of “Buy” and a consensus price target of $17.50.
In other OM Asset Management PLC news, CEO Peter L. Bain sold 145,842 shares of the business’s 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 sale, the chief executive officer now directly owns 778,474 shares in the company, valued at $11,225,595.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the business’s 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 completion of the sale, the insider now owns 22,001,183 shares in the company, valued at $320,117,212.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,040,842 shares of company stock valued at $364,325,292. 1.48% of the stock is currently owned by corporate insiders.
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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