Oaktree Capital Group, LLC (NYSE:OAK) Receives $47.00 Average Target Price from Analysts
Oaktree Capital Group, LLC (NYSE:OAK) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $47.20.
Several research firms have recently issued reports on OAK. Goldman Sachs Group, Inc. (The) downgraded Oaktree Capital Group from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $50.00 to $49.00 in a research note on Friday, July 28th. BidaskClub downgraded Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Morgan Stanley upped their price target on Oaktree Capital Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price target on shares of Oaktree Capital Group in a research note on Sunday, July 30th. Finally, Deutsche Bank AG upped their price target on Oaktree Capital Group from $44.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, April 28th.
Shares of Oaktree Capital Group (NYSE OAK) traded up 0.21% during midday trading on Friday, hitting $47.60. The company had a trading volume of 170,354 shares. Oaktree Capital Group has a one year low of $36.95 and a one year high of $48.50. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 10.39 and a beta of 0.60. The company’s 50 day moving average is $47.35 and its 200 day moving average is $45.64.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.26. The company had revenue of $704.36 million during the quarter, compared to the consensus estimate of $592.84 million. Oaktree Capital Group had a return on equity of 20.71% and a net margin of 19.17%. During the same quarter in the prior year, the company posted $0.79 EPS. Equities analysts forecast that Oaktree Capital Group will post $3.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 11.03%. The ex-dividend date is Thursday, August 3rd. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.71. Oaktree Capital Group’s payout ratio is currently 114.66%.
In other Oaktree Capital Group news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average price of $15.00 per share, with a total value of $13,641,645.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC boosted its position in Oaktree Capital Group by 122.0% in the first quarter. Penserra Capital Management LLC now owns 2,247 shares of the asset manager’s stock valued at $101,000 after buying an additional 1,235 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Oaktree Capital Group during the first quarter valued at $103,000. US Bancorp DE boosted its position in Oaktree Capital Group by 59.2% in the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock valued at $141,000 after buying an additional 1,125 shares in the last quarter. Kayne Anderson Capital Advisors LP acquired a new position in Oaktree Capital Group during the second quarter valued at $209,000. Finally, Financial Architects Inc boosted its position in Oaktree Capital Group by 2.9% in the first quarter. Financial Architects Inc now owns 4,747 shares of the asset manager’s stock valued at $215,000 after buying an additional 135 shares in the last quarter. 23.23% of the stock is owned by institutional investors and hedge funds.
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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