Oaktree Capital Group LLC (NYSE:OAK) – Jefferies Group increased their FY2019 earnings per share estimates for Oaktree Capital Group in a research note issued on Tuesday. Jefferies Group analyst G. O’hara now expects that the asset manager will post earnings of $3.90 per share for the year, up from their prior estimate of $3.78.
Oaktree Capital Group (NYSE:OAK) last posted its earnings results on Tuesday, February 6th. The asset manager reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.17. The firm had revenue of $327.40 million for the quarter, compared to analysts’ expectations of $286.45 million. Oaktree Capital Group had a net margin of 15.75% and a return on equity of 18.06%. The company’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share.
Oaktree Capital Group (OAK) traded down $0.20 during midday trading on Friday, hitting $42.80. 684,142 shares of the company’s stock were exchanged, compared to its average volume of 310,441. The company has a market capitalization of $6,670.00, a PE ratio of 11.82, a PEG ratio of 1.07 and a beta of 0.62. Oaktree Capital Group has a 12-month low of $41.10 and a 12-month high of $48.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.37.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 16th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.56. Oaktree Capital Group’s payout ratio is presently 61.88%.
In other Oaktree Capital Group news, major shareholder Oaktree Capital Management Lp acquired 84,054 shares of Oaktree Capital Group stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $5.22 per share, with a total value of $438,761.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Organics L.P. Oaktree acquired 3,055,460 shares of Oaktree Capital Group stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of $7.50 per share, for a total transaction of $22,915,950.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 4,582,236 shares of company stock worth $44,812,086.
Institutional investors have recently modified their holdings of the stock. Steinberg Global Asset Management bought a new stake in shares of Oaktree Capital Group in the third quarter worth $4,186,000. JPMorgan Chase & Co. lifted its holdings in Oaktree Capital Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 1,389,230 shares of the asset manager’s stock valued at $65,016,000 after buying an additional 67,825 shares during the period. Ardevora Asset Management LLP lifted its holdings in Oaktree Capital Group by 2.1% in the third quarter. Ardevora Asset Management LLP now owns 758,200 shares of the asset manager’s stock valued at $35,673,000 after buying an additional 15,800 shares during the period. Markel Corp lifted its holdings in Oaktree Capital Group by 4.2% in the third quarter. Markel Corp now owns 886,500 shares of the asset manager’s stock valued at $41,710,000 after buying an additional 36,000 shares during the period. Finally, Shelter Ins Retirement Plan acquired a new position in Oaktree Capital Group in the third quarter valued at $3,477,000. 22.58% of the stock is currently owned by institutional investors.
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Oaktree Capital Group Company Profile
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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