OM Asset Management PLC (OMAM) Stock Rating Upgraded by Zacks Investment Research
OM Asset Management PLC (NYSE:OMAM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage currently has a $17.00 price objective on the asset manager’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.99% from the company’s previous close.
According to Zacks, “OM Asset Management plc operates as a multi-boutique asset management company. It provides its services to individuals and institutions. The Company offers products in domestic and international equities, fixed income, and alternative investments, such as timber and real estate. OM Asset Management plc is based Boston, Massachusetts. “
A number of other research firms also recently issued reports on OMAM. Citigroup Inc. increased their target price on shares of OM Asset Management PLC from $18.50 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. TheStreet upgraded shares of OM Asset Management PLC from a “d” rating to a “c” rating in a research report on Monday, October 9th. Royal Bank Of Canada set a $18.00 price target on shares of OM Asset Management PLC and gave the company a “buy” rating in a report on Wednesday, October 18th. BidaskClub downgraded shares of OM Asset Management PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, ValuEngine upgraded shares of OM Asset Management PLC from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. OM Asset Management PLC currently has a consensus rating of “Buy” and an average target price of $18.08.
Shares of OM Asset Management PLC (NYSE:OMAM) opened at $16.04 on Thursday. OM Asset Management PLC has a 12-month low of $13.20 and a 12-month high of $16.04. The stock has a market cap of $1,709.44, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.73 and a beta of 1.74.
OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, November 2nd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. OM Asset Management PLC had a net margin of 9.49% and a return on equity of 110.15%. The company had revenue of $228.20 million during the quarter, compared to the consensus estimate of $220.50 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 29.8% compared to the same quarter last year. sell-side analysts expect that OM Asset Management PLC will post 1.58 earnings per share for the current year.
In related news, Director Robert J. Chersi purchased 7,500 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $13.48 per share, for a total transaction of $101,100.00. Following the transaction, the director now directly owns 12,971 shares of the company’s stock, valued at approximately $174,849.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.48% of the company’s stock.
Several institutional investors have recently modified their holdings of OMAM. Oppenheimer Asset Management Inc. boosted its position in shares of OM Asset Management PLC by 22.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 1,488 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $156,000. SG Americas Securities LLC acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $159,000. BlueCrest Capital Management Ltd acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $168,000. Finally, First Quadrant L P CA acquired a new stake in shares of OM Asset Management PLC during the 2nd quarter valued at about $178,000. Institutional investors and hedge funds own 66.00% 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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