Oaktree Capital Group LLC (OAK) Stake Boosted by AMG National Trust Bank
AMG National Trust Bank grew its stake in shares of Oaktree Capital Group LLC (NYSE:OAK) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,980 shares of the asset manager’s stock after acquiring an additional 4,207 shares during the quarter. AMG National Trust Bank’s holdings in Oaktree Capital Group were worth $2,820,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of OAK. California Public Employees Retirement System increased its holdings in shares of Oaktree Capital Group by 2.5% during the second quarter. California Public Employees Retirement System now owns 73,700 shares of the asset manager’s stock valued at $3,434,000 after acquiring an additional 1,800 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Oaktree Capital Group during the second quarter valued at about $265,000. The Manufacturers Life Insurance Company increased its holdings 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 valued at $215,000 after acquiring an additional 299 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Oaktree Capital Group during the second quarter valued at about $245,000. Finally, Advisory Services Network LLC increased its holdings in shares of Oaktree Capital Group by 11.3% during the second quarter. Advisory Services Network LLC now owns 17,542 shares of the asset manager’s stock valued at $817,000 after acquiring an additional 1,776 shares in the last quarter. Hedge funds and other institutional investors own 22.61% of the company’s stock.
Shares of Oaktree Capital Group LLC (OAK) opened at $42.80 on Thursday. The company has a market capitalization of $6,662.57, a P/E ratio of 10.72, a P/E/G ratio of 0.95 and a beta of 0.62. Oaktree Capital Group LLC has a 52-week low of $41.10 and a 52-week high of $48.50. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.80 and a quick ratio of 1.80.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 16th will be given a $0.76 dividend. The ex-dividend date is Thursday, February 15th. This represents a $3.04 dividend on an annualized basis and a yield of 7.10%. This is a positive change from Oaktree Capital Group’s previous quarterly dividend of $0.56. Oaktree Capital Group’s dividend payout ratio is currently 61.88%.
In related news, major shareholder Oaktree Capital Management Lp acquired 28,800 shares of the stock in a transaction on Wednesday, December 13th. The shares were acquired at an average price of $8.63 per share, for a total transaction of $248,544.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Ocm Growth Holdings Llc acquired 1,413,922 shares of the stock in a transaction on Friday, December 8th. The stock was bought at an average price of $15.00 per share, for a total transaction of $21,208,830.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,682,236 shares of company stock worth $45,351,686.
OAK has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Oaktree Capital Group from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. TheStreet downgraded shares of Oaktree Capital Group from a “b-” rating to a “c+” rating in a report on Friday, November 17th. ValuEngine downgraded shares of Oaktree Capital Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, JPMorgan Chase & Co. cut 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 report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average 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.
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