Oaktree Capital Group LLC (NYSE:OAK) declared a quarterly dividend on Wednesday, February 6th, Wall Street Journal reports. Investors of record on Friday, February 15th will be given a dividend of 0.75 per share by the asset manager on Friday, February 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 7.03%. The ex-dividend date is Thursday, February 14th. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.70.
Oaktree Capital Group has increased its dividend by an average of 12.2% annually over the last three years. Oaktree Capital Group has a payout ratio of 111.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Oaktree Capital Group to earn $3.30 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 90.9%.
OAK stock opened at $42.65 on Wednesday. The stock has a market capitalization of $6.70 billion, a P/E ratio of 16.22, a P/E/G ratio of 1.14 and a beta of 0.53. Oaktree Capital Group has a 52 week low of $38.65 and a 52 week high of $43.19. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.30 and a quick ratio of 2.30.
In other news, major shareholder Oaktree Capital Group Holdings purchased 110,000 shares of Oaktree Capital Group stock in a transaction dated Friday, December 28th. The shares were bought at an average cost of $4.52 per share, for a total transaction of $497,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc purchased 2,192,658 shares of Oaktree Capital Group stock in a transaction dated Wednesday, January 2nd. The shares were purchased at an average price of $15.19 per share, for a total transaction of $33,306,475.02. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 4,464,207 shares of company stock worth $43,402,570.
A number of research firms have issued reports on OAK. TheStreet upgraded Oaktree Capital Group from a “c+” rating to a “b-” rating in a research report on Thursday, November 15th. Deutsche Bank decreased their target price on Oaktree Capital Group from $41.00 to $39.00 and set a “hold” rating on the stock in a research report on Friday, November 16th. JPMorgan Chase & Co. lifted their target price on Oaktree Capital Group from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Morgan Stanley lifted their target price on Oaktree Capital Group from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, November 14th. Finally, ValuEngine upgraded Oaktree Capital Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $45.40.
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Oaktree Capital Group Company Profile
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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