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

Zacks Investment Research upgraded shares of OM Asset Management PLC (NYSE:OMAM) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $17.00 target price 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 analysts have also recently commented on the stock. BidaskClub cut shares of OM Asset Management PLC from a hold rating to a sell rating in a research note on Tuesday, July 25th. Royal Bank Of Canada set a $18.00 target price on shares of OM Asset Management PLC and gave the stock a buy rating in a research note on Wednesday, October 18th. ValuEngine cut shares of OM Asset Management PLC from a buy rating to a hold rating in a research note on Friday, September 22nd. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $17.50 target price on shares of OM Asset Management PLC in a research note on Tuesday, September 5th. Finally, Citigroup Inc. lifted their target price on shares of OM Asset Management PLC from $18.50 to $20.00 and gave the stock a buy rating in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $18.08.

OM Asset Management PLC (NYSE OMAM) traded up $0.49 during mid-day trading on Thursday, reaching $16.04. 376,500 shares of the company’s stock traded hands, compared to its average volume of 544,094. The stock has a market cap of $1,759.92, a PE ratio of 10.55, a P/E/G ratio of 0.75 and a beta of 1.74. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.65 and a quick ratio of 1.65. OM Asset Management PLC has a 12-month low of $13.20 and a 12-month high of $16.04.

OM Asset Management PLC (NYSE:OMAM) last released its earnings results on Thursday, November 2nd. The asset manager reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The firm had revenue of $228.20 million during the quarter, compared to analysts’ expectations of $220.50 million. OM Asset Management PLC had a net margin of 9.49% and a return on equity of 111.76%. OM Asset Management PLC’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. equities analysts anticipate that OM Asset Management PLC will post 1.58 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.chaffeybreeze.com/2017/11/13/zacks-investment-research-upgrades-om-asset-management-plc-omam-to-buy.html.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.36 annualized dividend and a dividend yield of 2.24%. OM Asset Management PLC’s dividend payout ratio is presently 52.94%.

In related news, Director Robert J. Chersi acquired 7,500 shares of the stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $13.48 per share, with a total value of $101,100.00. Following the purchase, the director now directly owns 12,971 shares of the company’s stock, valued at $174,849.08. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.48% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of OM Asset Management PLC by 1.0% during the 1st quarter. Bank of America Corp DE now owns 139,704 shares of the asset manager’s stock valued at $2,112,000 after buying an additional 1,362 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of OM Asset Management PLC by 22.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,979 shares of the asset manager’s stock valued at $119,000 after buying an additional 1,488 shares during the period. American International Group Inc. grew its stake in shares of OM Asset Management PLC by 7.1% during the 1st 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 during the period. Parametric Portfolio Associates LLC boosted its position in OM Asset Management PLC by 5.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 37,032 shares of the asset manager’s stock worth $550,000 after purchasing an additional 1,981 shares during the period. Finally, Legal & General Group Plc boosted its position in OM Asset Management PLC by 19.2% during the 2nd quarter. Legal & General Group Plc now owns 16,402 shares of the asset manager’s stock worth $244,000 after purchasing an additional 2,638 shares during the period. 65.76% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on OM Asset Management PLC (OMAM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for OM Asset Management PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OM Asset Management PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply