Oaktree Capital Group LLC (OAK) to Issue Quarterly Dividend of $0.76
Oaktree Capital Group LLC (NYSE:OAK) declared a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Shareholders of record on Friday, February 16th will be given a dividend of 0.76 per share by the asset manager on Friday, February 23rd. This represents a $3.04 annualized dividend and a yield of 7.13%. The ex-dividend date is Thursday, February 15th. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.56.
Oaktree Capital Group has increased its dividend by an average of 0.6% annually over the last three years and has raised its dividend every year for the last 2 years. Oaktree Capital Group has a dividend payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Oaktree Capital Group to earn $4.19 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 53.5%.
Oaktree Capital Group (NYSE:OAK) opened at $42.65 on Wednesday. The company has a debt-to-equity ratio of 2.37, a quick ratio of 1.80 and a current ratio of 1.80. The firm has a market capitalization of $6,678.19, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.95 and a beta of 0.62. Oaktree Capital Group has a twelve month low of $41.10 and a twelve month high of $48.50.
In other news, major shareholder Organics L.P. Oaktree purchased 3,055,460 shares of the company’s stock in a transaction on Friday, December 15th. The shares were purchased at an average price of $7.50 per share, with a total value of $22,915,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Oaktree Capital Management Lp purchased 28,800 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was purchased at an average cost of $8.63 per share, for a total transaction of $248,544.00. The disclosure for this purchase can be found here. Insiders acquired a total of 4,682,236 shares of company stock worth $45,351,686 in the last three months.
Several analysts have issued reports on OAK shares. TheStreet downgraded Oaktree Capital Group from a “b-” rating to a “c+” rating in a research note on Friday, November 17th. Zacks Investment Research downgraded Oaktree Capital Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 9th. ValuEngine downgraded Oaktree Capital Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, JPMorgan Chase & Co. dropped their price target on Oaktree Capital Group from $53.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Oaktree Capital Group currently has an average rating of “Hold” and a consensus price target of $49.80.
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.
Receive News & Ratings for Oaktree Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.