Scotia Capital Inc. cut its stake in shares of Oaktree Capital Group LLC (NYSE:OAK) by 50.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,209 shares of the asset manager’s stock after selling 9,340 shares during the quarter. Scotia Capital Inc.’s holdings in Oaktree Capital Group were worth $388,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Stelac Advisory Services LLC purchased a new position in shares of Oaktree Capital Group during the third quarter worth approximately $113,000. Carroll Financial Associates Inc. increased its position in shares of Oaktree Capital Group by 200.0% during the fourth quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the asset manager’s stock worth $126,000 after acquiring an additional 2,000 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Oaktree Capital Group during the fourth quarter worth approximately $175,000. North Star Investment Management Corp. increased its position in shares of Oaktree Capital Group by 235.3% during the fourth quarter. North Star Investment Management Corp. now owns 4,208 shares of the asset manager’s stock worth $177,000 after acquiring an additional 2,953 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Oaktree Capital Group by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 4,618 shares of the asset manager’s stock worth $215,000 after acquiring an additional 299 shares during the period. 23.01% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on OAK. Morgan Stanley reduced their target price on shares of Oaktree Capital Group from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, March 1st. ValuEngine downgraded shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. dropped their price objective on shares of Oaktree Capital Group from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 13th. Zacks Investment Research upgraded shares of Oaktree Capital Group from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Finally, TheStreet downgraded shares of Oaktree Capital Group from a “b-” rating to a “c+” rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Oaktree Capital Group presently has an average rating of “Hold” and an average target price of $50.20.
Oaktree Capital Group LLC (NYSE OAK) opened at $41.20 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 6.04 and a current ratio of 6.04. Oaktree Capital Group LLC has a one year low of $40.80 and a one year high of $48.50. The stock has a market cap of $6,422.49, a P/E ratio of 10.33, a PEG ratio of 0.93 and a beta of 0.67.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.17. Oaktree Capital Group had a net margin of 15.75% and a return on equity of 18.04%. The firm had revenue of $327.40 million for the quarter, compared to the consensus estimate of $286.45 million. During the same period last year, the firm earned $0.91 earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. analysts predict that Oaktree Capital Group LLC will post 3.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, February 15th. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.56. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.38%. Oaktree Capital Group’s dividend payout ratio (DPR) is currently 83.98%.
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About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.
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