OM Asset Management PLC (OMAM) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a hold rating to a buy rating in a report released on Tuesday.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut OM Asset Management PLC from a hold rating to a sell rating in a report on Wednesday, April 5th. Evercore ISI reiterated an outperform rating on shares of OM Asset Management PLC in a report on Monday, April 3rd. Wells Fargo & Company upgraded OM Asset Management PLC from a market perform rating to an outperform rating and set a $17.00 target price for the company in a report on Monday, June 5th. Credit Suisse Group reiterated a buy rating and issued a $19.00 target price on shares of OM Asset Management PLC in a report on Friday, April 7th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating on shares of OM Asset Management PLC in a report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $16.90.

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

OM Asset Management PLC (NYSE OMAM) opened at 14.71 on Tuesday. The firm has a 50-day moving average price of $14.60 and a 200-day moving average price of $14.74. The company has a market cap of $1.69 billion, a P/E ratio of 15.01 and a beta of 1.72. OM Asset Management PLC has a 12-month low of $12.10 and a 12-month high of $16.01.

OM Asset Management PLC (NYSE:OMAM) last issued its earnings results on Thursday, May 4th. The asset manager reported $0.34 earnings per share for the quarter, hitting the Thomson Reuters’ 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 business had revenue of $198.80 million during the quarter, compared to analysts’ expectations of $196.70 million. During the same period in the prior year, the business earned $0.27 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities research analysts forecast that OM Asset Management PLC will post $1.52 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.45%. This is a positive change from OM Asset Management PLC’s previous quarterly dividend of $0.08. The ex-dividend date is Wednesday, June 14th. OM Asset Management PLC’s payout ratio is presently 36.74%.

In other news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 22,001,183 shares of the company’s stock, valued at approximately $320,117,212.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Linda T. Gibson sold 38,224 shares of the business’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $14.99, for a total value of $572,977.76. Following the completion of the transaction, the executive vice president now directly owns 214,774 shares of the company’s stock, valued at $3,219,462.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,094,767 shares of company stock valued at $365,217,030. Corporate insiders own 1.48% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank bought a new position in OM Asset Management PLC during the fourth quarter valued at approximately $2,850,000. State Street Corp raised its position in OM Asset Management PLC by 5.0% in the fourth quarter. State Street Corp now owns 831,892 shares of the asset manager’s stock valued at $12,063,000 after buying an additional 39,534 shares during the last quarter. Dimensional Fund Advisors LP raised its position in OM Asset Management PLC by 35.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 366,499 shares of the asset manager’s stock valued at $5,314,000 after buying an additional 96,258 shares during the last quarter. Federated Investors Inc. PA bought a new position in OM Asset Management PLC during the fourth quarter valued at approximately $5,936,000. Finally, Trexquant Investment LP bought a new position in OM Asset Management PLC during the fourth quarter valued at approximately $528,000. 46.23% of the stock is owned by hedge funds and other institutional investors.

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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