Oaktree Capital Group (NYSE:OAK) had its target price boosted by JPMorgan Chase & Co. from $47.00 to $50.00 in a report issued on Wednesday morning. They currently have a neutral rating on the asset manager’s stock.
Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Oaktree Capital Group from a c+ rating to a b- rating in a research report on Tuesday, July 24th. Zacks Investment Research raised shares of Oaktree Capital Group from a hold rating to a buy rating and set a $46.00 price objective for the company in a report on Thursday, July 12th. Morgan Stanley dropped their price objective on shares of Oaktree Capital Group from $48.00 to $47.00 and set a buy rating for the company in a report on Tuesday, October 9th. ValuEngine raised shares of Oaktree Capital Group from a sell rating to a hold rating in a report on Wednesday, October 17th. Finally, Oppenheimer reaffirmed a hold rating on shares of Oaktree Capital Group in a report on Monday, July 30th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $45.80.
Shares of OAK traded down $0.17 during mid-day trading on Wednesday, reaching $42.43. 254,483 shares of the stock traded hands, compared to its average volume of 252,554. The firm has a market capitalization of $6.69 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.08 and a beta of 0.71. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.88 and a quick ratio of 1.88. Oaktree Capital Group has a 1 year low of $38.65 and a 1 year high of $47.50.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.70 per share. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.55. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date is Friday, November 2nd. Oaktree Capital Group’s payout ratio is currently 55.42%.
In other Oaktree Capital Group news, Director Larry W. Keele sold 8,333 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $41.40, for a total value of $344,986.20. Following the completion of the sale, the director now directly owns 8,656 shares of the company’s stock, valued at $358,358.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ocm Growth Holdings Llc purchased 1,006,899 shares of the stock in a transaction on Friday, September 14th. The stock was acquired at an average cost of $15.02 per share, with a total value of $15,123,622.98. The disclosure for this purchase can be found here.
A number of institutional investors have recently bought and sold shares of OAK. Sei Investments Co. lifted its stake in Oaktree Capital Group by 1,310.0% in the first quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock worth $140,000 after purchasing an additional 3,275 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Oaktree Capital Group by 101.1% during the first quarter. The Manufacturers Life Insurance Company now owns 9,600 shares of the asset manager’s stock valued at $380,000 after acquiring an additional 4,826 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Oaktree Capital Group by 8.5% during the first quarter. Guggenheim Capital LLC now owns 42,132 shares of the asset manager’s stock valued at $1,668,000 after acquiring an additional 3,304 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Oaktree Capital Group by 17.1% during the first quarter. Royal Bank of Canada now owns 51,078 shares of the asset manager’s stock valued at $2,022,000 after acquiring an additional 7,454 shares during the last quarter. Finally, CIBC World Markets Inc. raised its stake in shares of Oaktree Capital Group by 34.3% during the first quarter. CIBC World Markets Inc. now owns 16,591 shares of the asset manager’s stock valued at $657,000 after acquiring an additional 4,236 shares during the last quarter. 26.20% of the stock is owned by institutional investors and hedge funds.
Oaktree Capital Group Company Profile
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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