Shelter Mutual Insurance Co lessened its holdings in shares of Oaktree Capital Group LLC (NYSE:OAK) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,400 shares of the asset manager’s stock after selling 17,000 shares during the period. Oaktree Capital Group comprises approximately 1.8% of Shelter Mutual Insurance Co’s investment portfolio, making the stock its 26th biggest position. Shelter Mutual Insurance Co owned 0.10% of Oaktree Capital Group worth $6,236,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of OAK. Stelac Advisory Services LLC purchased a new stake in Oaktree Capital Group in the second quarter valued at $118,000. Sei Investments Co. boosted its holdings in Oaktree Capital Group by 1,310.0% in the first quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock valued at $140,000 after purchasing an additional 3,275 shares during the last quarter. Whittier Trust Co. purchased a new stake in shares of Oaktree Capital Group during the 2nd quarter worth about $195,000. Moors & Cabot Inc. purchased a new stake in shares of Oaktree Capital Group during the 1st quarter worth about $221,000. Finally, Albert D Mason Inc. purchased a new stake in shares of Oaktree Capital Group during the 1st quarter worth about $248,000. 25.93% of the stock is owned by hedge funds and other institutional investors.
In other Oaktree Capital Group news, Director Larry W. Keele sold 8,333 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $41.40, for a total value of $344,986.20. Following the completion of the sale, the director now owns 8,656 shares in the company, valued at approximately $358,358.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Larry W. Keele sold 21,090 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $40.01, for a total transaction of $843,810.90. Following the completion of the sale, the director now owns 43,415 shares of the company’s stock, valued at approximately $1,737,034.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,415 shares of company stock valued at $2,569,688.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings results on Thursday, July 26th. The asset manager reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $273.53 million for the quarter, compared to analyst estimates of $276.75 million. Oaktree Capital Group had a return on equity of 9.38% and a net margin of 13.05%. The firm’s revenue for the quarter was down 61.2% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. sell-side analysts expect that Oaktree Capital Group LLC will post 2.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Monday, August 6th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $2.20 dividend on an annualized basis and a yield of 5.36%. Oaktree Capital Group’s payout ratio is 55.42%.
Several equities research analysts have recently issued reports on OAK shares. TheStreet raised shares of Oaktree Capital Group from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised shares of Oaktree Capital Group from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Thursday, July 12th. Oppenheimer reissued a “hold” rating on shares of Oaktree Capital Group in a research note on Monday, July 30th. Keefe, Bruyette & Woods lowered shares of Oaktree Capital Group from an “outperform” rating to a “market perform” rating in a research note on Friday, April 27th. Finally, Credit Suisse Group lowered their target price on shares of Oaktree Capital Group from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Oaktree Capital Group currently has an average rating of “Hold” and a consensus price target of $45.40.
About Oaktree Capital Group
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.
Featured Story: Technical Analysis
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.