Nationwide Fund Advisors cut its position in shares of OM Asset Management PLC (NYSE:OMAM) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,094 shares of the asset manager’s stock after selling 16,402 shares during the period. Nationwide Fund Advisors owned approximately 0.14% of OM Asset Management worth $2,224,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its stake in OM Asset Management by 22.9% during the second 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 last quarter. Principal Financial Group Inc. bought a new position in OM Asset Management during the second quarter valued at approximately $156,000. SG Americas Securities LLC bought a new position in OM Asset Management during the second quarter valued at approximately $159,000. BlueCrest Capital Management Ltd bought a new position in OM Asset Management during the second quarter valued at approximately $168,000. Finally, Legal & General Group Plc boosted its stake in OM Asset Management by 19.2% during the second quarter. Legal & General Group Plc now owns 16,402 shares of the asset manager’s stock valued at $244,000 after buying an additional 2,638 shares during the last quarter. 64.94% of the stock is owned by institutional investors.
Several research firms have recently issued reports on OMAM. Sandler O’Neill set a $19.00 price objective on OM Asset Management and gave the company a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $22.00 price objective on shares of OM Asset Management in a research note on Tuesday. Zacks Investment Research raised OM Asset Management from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Thursday, January 4th. Royal Bank of Canada set a $20.00 price objective on OM Asset Management and gave the company a “buy” rating in a research note on Saturday, December 16th. Finally, Citigroup raised their price objective on OM Asset Management from $18.50 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. OM Asset Management currently has an average rating of “Buy” and an average price target of $19.43.
In related news, CAO Daniel K. Mahoney sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $15.94, for a total transaction of $31,880.00. Following the completion of the sale, the chief accounting officer now directly owns 7,493 shares of the company’s stock, valued at approximately $119,438.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Linda T. Gibson sold 46,357 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $16.46, for a total value of $763,036.22. Following the sale, the executive vice president now directly owns 146,193 shares of the company’s stock, valued at $2,406,336.78. The disclosure for this sale can be found here. Insiders have sold a total of 56,257 shares of company stock valued at $922,264 over the last three months. 1.48% of the stock is owned by corporate insiders.
OM Asset Management PLC (NYSE:OMAM) traded up $0.50 during trading hours on Friday, hitting $18.34. The stock had a trading volume of 417,070 shares, compared to its average volume of 452,366. OM Asset Management PLC has a 1-year low of $13.20 and a 1-year high of $18.37. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.65 and a quick ratio of 1.65. The company has a market cap of $1,957.41, a price-to-earnings ratio of 26.97, a price-to-earnings-growth ratio of 0.63 and a beta of 1.76.
OM Asset Management (NYSE:OMAM) last issued its quarterly earnings results on Thursday, November 2nd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. OM Asset Management had a return on equity of 114.45% and a net margin of 9.49%. The firm had revenue of $228.20 million during the quarter, compared to analyst estimates of $220.50 million. During the same period last year, the company earned $0.32 EPS. OM Asset Management’s quarterly revenue was up 29.8% compared to the same quarter last year. analysts expect that OM Asset Management PLC will post 1.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, December 14th. OM Asset Management’s dividend payout ratio is currently 52.94%.
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OM Asset Management 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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