Old Mutual Sells 14.5% of OM Asset Management Stake for $251.4 Million

Shares of OM Asset Management PLC (NYSE OMAM) traded up $0.49 on Thursday, hitting $16.04. The firm now has a "buy" rating 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. Balyasny Asset Management Limited Liability Corp, Illinois-based fund reported 1.11M shares.

OMAM has been the subject of a number of other research reports. BidaskClub upgraded OM Asset Management PLC from a strong sell rating to a sell rating in a research note on Tuesday, September 26th.

OM Asset Management PLC (NYSE:OMAM) was upgraded by equities research analysts at ValuEngine from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Thursday, November 2nd. New York State Common Retirement Fund has invested 0.01% in OM Asset Management PLC (NYSE:OMAM). Royal Bank Of Canada set a $18.00 target price on OM Asset Management PLC and gave the company a "buy" rating in a report on Wednesday, October 18th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of "Hold" and a consensus target price of $39.70. XL Group PLC has a 52-week low of $30.33 and a 52-week high of $40.48. The firm has a market capitalization of $1,759.91, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 0.75 and a beta of 1.74.

More important recent OM Asset Management PLC (NYSE:OMAM) news were published by: Prnewswire.com which released: "Technical Insights on Asset Management Stocks - OM Asset Management, Voya ..." on October 13, 2017, also Seekingalpha.com published article titled: "OM Asset Management's (OMAM) CEO Peter Bain on Q1 2017 Results - Earnings Call ...", Seekingalpha.com published: "OM Asset Management's (OMAM) CEO James Ritchie on Q2 2017 Results - Earnings ..." on August 05, 2017.

Last month reports emerged that Mr Buxton, who, in addition to his fund management responsibilities has been chief executive of Old Mutual Global Investors, is negotiating with potential private equity partners about potentially leading a management buyout of the company, which has assets under management of around £23bn. The company had revenue of $228.20 million for the quarter, compared to analyst estimates of $220.50 million. The business's revenue was up 29.8% on a year-over-year basis. analysts expect that OM Asset Management PLC will post 1.58 earnings per share for the current fiscal year. Keefe Bruyette & Woods maintained OM Asset Management PLC (NYSE:OMAM) on Monday, September 4 with "Buy" rating. If you are accessing this piece on another site, it was illegally stolen and republished in violation of US & worldwide copyright and trademark law. The ex-dividend date is Thursday, December 14th.

In related news, Director Robert J. Chersi bought 7,500 shares of the business's stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $13.48 per share, for a total transaction of $101,100.00. Grantham Mayo Van Otterloo And Ltd Company owns 97,200 shares for 0.01% of their portfolio. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. It improved, as 8 investors sold OMAM shares while 23 reduced holdings. Oppenheimer Asset Management Inc. grew its holdings in OM Asset Management PLC by 22.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 2,956,298 shares of the asset manager's stock valued at $43,931,000 after acquiring an additional 502,805 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of OM Asset Management PLC by 20.5% in the 2nd quarter. BlueCrest Capital Management Ltd acquired a new position in OM Asset Management PLC in the 2nd quarter valued at $168,000. Finally, NorthCoast Asset Management LLC increased its position in shares of OM Asset Management PLC by 11.7% during the third quarter. 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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