OM Asset Management PLC (OMAM) Stock Rating Lowered by Zacks Investment Research

OM Asset Management PLC (NYSE:OMAM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Separately, Credit Suisse Group AG set a $17.00 target price on shares of OM Asset Management PLC and gave the company a “buy” rating in a research note on Saturday, February 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.92.

OM Asset Management PLC (NYSE:OMAM) opened at 14.64 on Tuesday. The stock has a market capitalization of $1.68 billion, a PE ratio of 13.94 and a beta of 1.76. OM Asset Management PLC has a 52 week low of $11.98 and a 52 week high of $15.52. The stock’s 50 day moving average is $14.88 and its 200-day moving average is $14.26.

OM Asset Management PLC (NYSE:OMAM) last posted its earnings results on Thursday, February 2nd. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm earned $186.60 million during the quarter, compared to analyst estimates of $189.32 million. OM Asset Management PLC had a net margin of 19.05% and a return on equity of 75.43%. OM Asset Management PLC’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. Equities research analysts forecast that OM Asset Management PLC will post $1.46 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, March 15th. OM Asset Management PLC’s payout ratio is 30.48%.

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In other OM Asset Management PLC news, CEO Peter L. Bain sold 21,539 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $14.98, for a total transaction of $322,654.22. Following the completion of the transaction, the chief executive officer now directly owns 890,523 shares of the company’s stock, valued at approximately $13,340,034.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Belgrad sold 5,487 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $14.86, for a total transaction of $81,536.82. Following the completion of the sale, the chief financial officer now directly owns 226,417 shares of the company’s stock, valued at $3,364,556.62. The disclosure for this sale can be found here. Insiders have sold a total of 114,177 shares of company stock valued at $1,704,766 over the last three months. 1.41% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Zebra Capital Management LLC bought a new stake in shares of OM Asset Management PLC during the fourth quarter worth $601,000. Mangrove Partners raised its stake in shares of OM Asset Management PLC by 127.9% in the third quarter. Mangrove Partners now owns 506,671 shares of the company’s stock worth $7,048,000 after buying an additional 284,394 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of OM Asset Management PLC by 2.7% in the third quarter. Neuberger Berman Group LLC now owns 1,222,203 shares of the company’s stock worth $17,001,000 after buying an additional 32,600 shares in the last quarter. Comerica Bank bought a new stake in shares of OM Asset Management PLC during the fourth quarter worth $2,850,000. Finally, Huber Capital Management LLC raised its stake in shares of OM Asset Management PLC by 3.3% in the third quarter. Huber Capital Management LLC now owns 1,004,195 shares of the company’s stock worth $13,968,000 after buying an additional 31,755 shares in the last quarter. 36.45% of the stock is owned by 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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