Neuberger Berman Group LLC Boosts Position in OM Asset Management PLC (OMAM)
Neuberger Berman Group LLC boosted its stake in shares of OM Asset Management PLC (NYSE:OMAM) by 20.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,956,298 shares of the asset manager’s stock after buying an additional 502,805 shares during the period. Neuberger Berman Group LLC owned about 2.58% of OM Asset Management PLC worth $43,931,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in shares of OM Asset Management PLC by 700.9% in the first quarter. Prudential Financial Inc. now owns 345,200 shares of the asset manager’s stock worth $5,219,000 after buying an additional 302,100 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of 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 in the last quarter. UBS Group AG increased its position in shares of OM Asset Management PLC by 40.9% in the first quarter. UBS Group AG now owns 81,225 shares of the asset manager’s stock worth $1,228,000 after buying an additional 23,561 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of OM Asset Management PLC during the first quarter worth approximately $339,000. Finally, American International Group Inc. increased its position in shares of 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 in the last quarter. 66.03% of the stock is owned by institutional investors.
Shares of OM Asset Management PLC (OMAM) opened at 13.98 on Friday. OM Asset Management PLC has a 1-year low of $12.10 and a 1-year high of $16.01. The stock has a market cap of $1.53 billion, a PE ratio of 17.67 and a beta of 1.73. The company’s 50-day moving average price is $14.27 and its 200 day moving average price is $14.72.
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 for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. OM Asset Management PLC had a return on equity of 95.51% and a net margin of 12.12%. The firm had revenue of $218.80 million during the quarter, compared to analyst estimates of $211.67 million. During the same quarter last year, the firm earned $0.30 EPS. OM Asset Management PLC’s quarterly revenue was up 39.8% on a year-over-year basis. Equities 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 of Directors has authorized a share repurchase plan on Monday, May 15th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the asset manager to reacquire shares of its stock through a private placement purchase. Stock buyback plans are often an indication that the company’s leadership believes its shares are 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 paid a dividend of $0.09 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 2.58%. OM Asset Management PLC’s dividend payout ratio (DPR) is presently 45.57%.
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OMAM has been the subject of a number of analyst reports. Royal Bank Of Canada set a $18.00 price objective on OM Asset Management PLC and gave the stock a “buy” rating in a research report on Thursday, August 3rd. BidaskClub raised OM Asset Management PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, June 27th. 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 research report on Monday, June 5th. Finally, ValuEngine raised OM Asset Management PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. OM Asset Management PLC has an average rating of “Buy” and a consensus target price of $17.50.
In other OM Asset Management PLC news, Director Robert J. Chersi acquired 7,500 shares of the stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $13.48 per share, for a total transaction of $101,100.00. Following the purchase, the director now directly owns 12,971 shares in the company, valued at $174,849.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $14.55, for a total value of $37,757,250.00. Following the sale, the insider now owns 22,001,183 shares of the company’s stock, valued at approximately $320,117,212.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,315,602 shares of company stock valued at $47,986,834. 1.48% of the stock is owned by 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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