Royal Bank Of Canada began coverage on shares of OM Asset Management PLC (NYSE:OMAM) in a research note issued on Thursday, June 29th, MarketBeat reports. The brokerage set an “outperform” rating and a $18.00 price target on the asset manager’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 21.29% from the company’s current price.
A number of other research analysts also recently weighed in on OMAM. Evercore ISI reiterated an “outperform” rating on shares of OM Asset Management PLC in a report on Monday, April 3rd. Zacks Investment Research raised OM Asset Management PLC from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Saturday, June 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of OM Asset Management PLC in a report on Thursday, April 6th. ValuEngine cut OM Asset Management PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub raised OM Asset Management PLC from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.08.
Shares of OM Asset Management PLC (NYSE:OMAM) traded down 0.13% on Thursday, hitting $14.84. The company’s stock had a trading volume of 371,857 shares. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 15.14 and a beta of 1.72. The stock’s 50-day moving average price is $14.95 and its 200-day moving average price is $14.83. OM Asset Management PLC has a 52 week low of $12.10 and a 52 week high of $16.01.
OM Asset Management PLC (NYSE:OMAM) last announced its quarterly earnings results on Thursday, May 4th. The asset manager reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. OM Asset Management PLC had a return on equity of 81.34% and a net margin of 16.48%. The company had revenue of $198.80 million for the quarter, compared to the consensus estimate of $196.70 million. During the same quarter in the previous year, the business earned $0.27 EPS. OM Asset Management PLC’s revenue was up 30.0% compared to the same quarter last year. Equities analysts expect that OM Asset Management PLC will post $1.53 earnings per share for the current fiscal year.
OM Asset Management PLC announced that its Board of Directors has initiated a stock buyback program on Monday, May 15th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through a private placement purchase. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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In other OM Asset Management PLC news, major shareholder Group (Uk) Ltd Om sold 2,595,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $14.55, for a total value of $37,757,250.00. Following the completion of the sale, the insider now owns 22,001,183 shares of the company’s stock, valued at $320,117,212.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.48% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in OMAM. Guggenheim Capital LLC purchased a new stake in shares of OM Asset Management PLC during the fourth quarter valued at about $166,000. First Quadrant L P CA bought a new stake in OM Asset Management PLC during the second quarter valued at $178,000. Nine Chapters Capital Management LLC increased its stake 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 bought a new stake in OM Asset Management PLC during the first quarter valued at $245,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in OM Asset Management PLC during the second quarter valued at $248,000. 46.22% of the stock is 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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