OM Asset Management PLC (OMAM) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a hold rating to a buy rating in a research note issued to investors on Tuesday, June 27th. Zacks Investment Research currently has $16.00 price target on the asset manager’s stock.

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. “

Several other equities analysts have also issued reports on OMAM. Credit Suisse Group set a $17.00 price target on OM Asset Management PLC and gave the company a buy rating in a research note on Monday, March 27th. Evercore ISI restated an outperform rating on shares of OM Asset Management PLC in a research note on Monday, April 3rd. Keefe, Bruyette & Woods reaffirmed an outperform rating on shares of OM Asset Management PLC in a report on Thursday, April 6th. ValuEngine downgraded OM Asset Management PLC from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, Wells Fargo & Company raised OM Asset Management PLC from a market perform rating to an outperform rating and set a $17.00 price objective on the stock in a report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. OM Asset Management PLC presently has a consensus rating of Buy and an average price target of $17.08.

OM Asset Management PLC (OMAM) opened at 15.33 on Tuesday. The company has a market cap of $1.76 billion, a P/E ratio of 15.64 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 firm’s 50-day moving average price is $14.51 and its 200-day moving average price is $14.74.

OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, May 4th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. OM Asset Management PLC had a return on equity of 81.34% and a net margin of 16.48%. The firm had revenue of $198.80 million for the quarter, compared to analyst estimates of $196.70 million. During the same period in the previous year, the company posted $0.27 earnings per share. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. Analysts expect that OM Asset Management PLC will post $1.53 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a $0.09 dividend. This is an increase from OM Asset Management PLC’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, June 14th. OM Asset Management PLC’s payout ratio is presently 36.74%.

OM Asset Management PLC declared that its Board of Directors has approved a stock repurchase program on Monday, May 15th that allows the company to repurchase 5,000,000 outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through a private placement purchase. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $14.55, for a total value of $37,757,250.00. Following the transaction, the insider now directly owns 22,001,183 shares of the company’s stock, valued at approximately $320,117,212.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.48% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in OMAM. Guggenheim Capital LLC acquired a new position in shares of OM Asset Management PLC during the fourth quarter valued at approximately $166,000. Nine Chapters Capital Management LLC increased 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 valued at $212,000 after buying an additional 2,400 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in OM Asset Management PLC during the first quarter valued at about $245,000. Mckinley Capital Management LLC Delaware purchased a new position in OM Asset Management PLC during the first quarter valued at about $339,000. Finally, American International Group Inc. increased its position 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 valued at $374,000 after buying an additional 1,637 shares in the last quarter. 46.22% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for OM Asset Management PLC (NYSE:OMAM)

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