Alpha Omega Wealth Management LLC Boosts Position in Oaktree Capital Group, LLC (OAK)
Alpha Omega Wealth Management LLC boosted its stake in shares of Oaktree Capital Group, LLC (NYSE:OAK) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,444 shares of the asset manager’s stock after buying an additional 2,154 shares during the period. Alpha Omega Wealth Management LLC owned about 0.08% of Oaktree Capital Group worth $2,490,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in OAK. Penserra Capital Management LLC raised its stake 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. purchased a new stake in Oaktree Capital Group during the first quarter valued at $103,000. US Bancorp DE raised its stake 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 purchased a new stake in Oaktree Capital Group during the second quarter valued at $209,000. Finally, Financial Architects Inc raised its stake 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. Institutional investors own 23.96% of the company’s stock.
Oaktree Capital Group, LLC (NYSE OAK) traded up 1.21% during midday trading on Friday, reaching $45.90. The company’s stock had a trading volume of 23,299 shares. Oaktree Capital Group, LLC has a 12-month low of $36.95 and a 12-month high of $48.50. The company has a market cap of $2.95 billion, a P/E ratio of 10.02 and a beta of 0.60. The firm has a 50 day moving average price of $47.20 and a 200-day moving average price of $46.17.
Oaktree Capital Group (NYSE:OAK) last posted its earnings results on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, beating the consensus estimate of $1.47 by $0.26. The firm had revenue of $704.36 million for the quarter, compared to analyst estimates of $592.84 million. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, equities research analysts predict that Oaktree Capital Group, LLC will post $3.93 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Monday, August 7th were issued a $1.31 dividend. This represents a $5.24 annualized dividend and a yield of 11.55%. The ex-dividend date was Thursday, August 3rd. This is a positive change from Oaktree Capital Group’s previous quarterly dividend of $0.71. Oaktree Capital Group’s dividend payout ratio is 114.66%.
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OAK has been the topic of several research reports. BidaskClub upgraded Oaktree Capital Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Jefferies Group LLC initiated coverage on Oaktree Capital Group in a research report on Wednesday, June 28th. They set a “hold” rating and a $49.00 price target on the stock. Deutsche Bank AG lifted their price target on Oaktree Capital Group from $44.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Goldman Sachs Group, Inc. (The) lowered Oaktree Capital Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $50.00 to $49.00 in a research report on Friday, July 28th. Finally, Morgan Stanley lifted their price target on Oaktree Capital Group from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.50.
In related news, Vice Chairman John Frank sold 16,666 shares of the 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 transaction, the insider now owns 41,667 shares of the company’s stock, valued at $1,946,682.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $5.66, for a total value of $56,600,000.00. The disclosure for this sale can be found here.
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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