Principal Financial Group Inc. lowered its stake in Oaktree Capital Group, LLC (NYSE:OAK) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157,215 shares of the asset manager’s stock after selling 2,638 shares during the period. Principal Financial Group Inc. owned about 1.80% of Oaktree Capital Group worth $54,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of OAK. Russell Investments Group Ltd. acquired a new stake in shares of Oaktree Capital Group during the 1st quarter worth about $103,000. Ameriprise Financial Inc. acquired a new position in Oaktree Capital Group during the first quarter worth $408,000. Bank of Montreal Can raised its holdings in Oaktree Capital Group by 341.7% during the second quarter. Bank of Montreal Can now owns 288,785 shares of the asset manager’s stock worth $13,458,000 after purchasing an additional 223,400 shares during the last quarter. US Bancorp DE raised its holdings in Oaktree Capital Group by 59.2% during the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock worth $141,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC raised its holdings in Oaktree Capital Group by 3.4% during the second quarter. Osborn Williams & Donohoe LLC now owns 34,125 shares of the asset manager’s stock worth $1,590,000 after purchasing an additional 1,125 shares during the last quarter. 21.97% of the stock is currently owned by institutional investors.
Shares of Oaktree Capital Group, LLC (OAK) opened at $42.50 on Wednesday. The company has a market capitalization of $6,693.81, a price-to-earnings ratio of 10.28, a PEG ratio of 0.89 and a beta of 0.61. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.80 and a quick ratio of 1.80. Oaktree Capital Group, LLC has a 1 year low of $36.95 and a 1 year high of $48.50.
Oaktree Capital Group (NYSE:OAK) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. The business had revenue of $304.80 million during the quarter, compared to the consensus estimate of $281.61 million. Oaktree Capital Group had a return on equity of 18.88% and a net margin of 19.04%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. analysts expect that Oaktree Capital Group, LLC will post 3.85 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Monday, November 6th were given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Friday, November 3rd. Oaktree Capital Group’s dividend payout ratio is currently 51.49%.
Several equities analysts recently issued reports on OAK shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price objective on shares of Oaktree Capital Group in a report on Sunday, July 30th. Morgan Stanley boosted their price target on Oaktree Capital Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) cut Oaktree Capital Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $49.00 in a report on Friday, July 28th. BidaskClub cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Zacks Investment Research cut Oaktree Capital Group from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $49.50.
In other news, Vice Chairman John Frank sold 16,666 shares of Oaktree Capital Group stock in a transaction on Friday, August 18th. The stock was sold at an average price of $46.72, for a total value of $778,635.52. Following the completion of the sale, the insider now owns 41,667 shares of the company’s stock, valued at $1,946,682.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Oaktree Capital Group Company Profile
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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