Zacks Investment Research upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a hold rating to a strong-buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $16.00 price target on the 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. “
OMAM has been the subject of a number of other research reports. TheStreet upgraded OM Asset Management PLC from a sell rating to a hold rating in a research report on Thursday, June 16th. Credit Suisse Group AG restated a buy rating on shares of OM Asset Management PLC in a research report on Wednesday, August 31st. Morgan Stanley restated a hold rating on shares of OM Asset Management PLC in a research report on Wednesday, June 15th. Citigroup Inc. restated a buy rating on shares of OM Asset Management PLC in a research report on Saturday, July 2nd. Finally, Keefe, Bruyette & Woods set a $17.50 target price on OM Asset Management PLC and gave the stock a buy rating in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $17.21.
Shares of OM Asset Management PLC (NYSE:OMAM) opened at 14.25 on Wednesday. The stock’s 50 day moving average is $13.52 and its 200 day moving average is $13.74. OM Asset Management PLC has a 12 month low of $10.27 and a 12 month high of $17.04. The firm has a market cap of $1.71 billion, a P/E ratio of 12.35 and a beta of 1.86.
OM Asset Management PLC (NYSE:OMAM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. The firm earned $156.50 million during the quarter, compared to the consensus estimate of $162.22 million. OM Asset Management PLC had a return on equity of 87.34% and a net margin of 22.02%. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Equities research analysts expect that OM Asset Management PLC will post $1.21 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.32 annualized dividend and a yield of 2.25%. OM Asset Management PLC’s payout ratio is currently 27.59%.
Hedge funds have recently made changes to their positions in the stock. Springbok Capital Management LLC bought a new stake in shares of OM Asset Management PLC during the first quarter valued at $113,000. Royal Bank of Canada bought a new stake in shares of OM Asset Management PLC during the second quarter valued at $124,000. Walleye Trading LLC bought a new stake in shares of OM Asset Management PLC during the second quarter valued at $132,000. Globeflex Capital L P bought a new stake in shares of OM Asset Management PLC during the second quarter valued at $134,000. Finally, Acrospire Investment Management LLC increased its stake in shares of OM Asset Management PLC by 461.5% in the second quarter. Acrospire Investment Management LLC now owns 11,680 shares of the company’s stock valued at $156,000 after buying an additional 9,600 shares during the last quarter. Hedge funds and other institutional investors own 32.60% of the company’s stock.
OM Asset Management PLC Company Profile
OM Asset Management plc is a multi-boutique asset management company. The Company operates its business through its approximately seven affiliate firms (Affiliates). The Company is an indirect subsidiary of Old Mutual plc, which is an investment, savings, insurance and banking group. The Company’s Affiliates include Acadian Asset Management LLC (Acadian), Barrow, Hanley, Mewhinney & Strauss, LLC (Barrow Hanley), Campbell Global, LLC (Campbell Global), Copper Rock Capital Partners LLC, Heitman LLC, Investment Counselors of Maryland, LLC and Thompson, Siegel & Walmsley LLC.
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