Bank of America Corp DE boosted its stake in OM Asset Management PLC (NYSE:OMAM) by 1.0% during the first quarter, Holdings Channel reports. The firm owned 139,704 shares of the asset manager’s stock after buying an additional 1,362 shares during the period. Bank of America Corp DE’s holdings in OM Asset Management PLC were worth $2,112,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Guggenheim Capital LLC bought a new stake in OM Asset Management PLC during the fourth quarter worth about $166,000. Nine Chapters Capital Management LLC raised its stake 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 period. Mckinley Capital Management LLC Delaware bought a new stake in OM Asset Management PLC during the first quarter worth about $339,000. American International Group Inc. raised its stake in OM Asset Management PLC by 7.1% in the first quarter. American International Group Inc. now owns 24,712 shares of the asset manager’s stock worth $374,000 after buying an additional 1,637 shares during the period. Finally, Affinity Investment Advisors LLC bought a new stake in OM Asset Management PLC during the first quarter worth about $433,000. Institutional investors own 46.24% of the company’s stock.

Shares of OM Asset Management PLC (NYSE:OMAM) traded up 1.10% on Friday, reaching $13.80. The company had a trading volume of 1,237,795 shares. OM Asset Management PLC has a 1-year low of $12.10 and a 1-year high of $16.01. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 17.36 and a beta of 1.71. The firm has a 50-day moving average price of $14.86 and a 200 day moving average price of $14.82.

OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, August 3rd. The asset manager reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.04. The firm had revenue of $218.80 million during the quarter, compared to analysts’ expectations of $211.67 million. OM Asset Management PLC had a net margin of 12.12% and a return on equity of 86.89%. OM Asset Management PLC’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. Equities research analysts predict that OM Asset Management PLC will post $1.54 earnings per share for the current year.

OM Asset Management PLC announced that its Board of Directors has initiated a stock buyback plan on Monday, May 15th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through a private placement purchase. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 2.61%. OM Asset Management PLC’s payout ratio is currently 45.57%.

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OMAM has been the subject of a number of analyst reports. ValuEngine upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $17.50 price target on shares of OM Asset Management PLC in a research report on Friday, August 4th. Royal Bank Of Canada set a $18.00 price target on OM Asset Management PLC and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded OM Asset Management PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Two investment 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. OM Asset Management PLC presently has an average rating of “Buy” and an average price target of $17.50.

In other news, CEO Peter L. Bain sold 273,885 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $14.21, for a total transaction of $3,891,905.85. Following the completion of the sale, the chief executive officer now directly owns 596,862 shares of the company’s stock, valued at approximately $8,481,409.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter L. Bain sold 91,118 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $14.24, for a total transaction of $1,297,520.32. Following the sale, the chief executive officer now directly owns 596,862 shares of the company’s stock, valued at $8,499,314.88. The disclosure for this sale can be found here. Insiders sold a total of 25,517,457 shares of company stock valued at $371,114,118 over the last ninety days. 1.48% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for OM Asset Management PLC (NYSE:OMAM)

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