Royal Bank of Canada Purchases 249,461 Shares of Blue Owl Capital Inc. $OWL

Royal Bank of Canada increased its position in Blue Owl Capital Inc. (NYSE:OWL) by 38.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 892,317 shares of the company’s stock after purchasing an additional 249,461 shares during the period. Royal Bank of Canada’s holdings in Blue Owl Capital were worth $8,147,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in shares of Blue Owl Capital by 152.5% during the 1st quarter. Empowered Funds LLC now owns 556,266 shares of the company’s stock valued at $5,079,000 after buying an additional 335,972 shares in the last quarter. Estuary Capital Management LP increased its stake in shares of Blue Owl Capital by 338.9% in the 1st quarter. Estuary Capital Management LP now owns 4,197,297 shares of the company’s stock worth $38,321,000 after acquiring an additional 3,241,040 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Blue Owl Capital by 30.8% in the 1st quarter. Quantinno Capital Management LP now owns 318,522 shares of the company’s stock worth $2,908,000 after acquiring an additional 75,004 shares in the last quarter. Saba Capital Management L.P. purchased a new position in Blue Owl Capital during the 1st quarter valued at about $925,000. Finally, SummitTX Capital L.P. lifted its position in Blue Owl Capital by 162.3% during the 1st quarter. SummitTX Capital L.P. now owns 124,874 shares of the company’s stock valued at $1,140,000 after acquiring an additional 77,263 shares during the period. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OWL. Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 27th. BMO Capital Markets increased their price objective on Blue Owl Capital from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Blue Owl Capital in a research report on Thursday, June 18th. Barclays boosted their price target on Blue Owl Capital from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.44.

Blue Owl Capital Trading Down 1.5%

NYSE OWL opened at $11.69 on Tuesday. Blue Owl Capital Inc. has a 12 month low of $7.95 and a 12 month high of $20.58. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 97.42, a PEG ratio of 1.33 and a beta of 1.19. The company’s 50 day moving average is $9.67 and its two-hundred day moving average is $10.18.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The business had revenue of $693.56 million during the quarter, compared to analyst estimates of $693.15 million. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. Sell-side analysts forecast that Blue Owl Capital Inc. will post 0.88 EPS for the current year.

Blue Owl Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.92 annualized dividend and a yield of 7.9%. Blue Owl Capital’s dividend payout ratio is currently 766.67%.

Blue Owl Capital Company Profile

Blue Owl Capital is a global alternative asset manager that focuses on private credit, direct lending and equity-related strategies for institutional investors. Headquartered in New York, the firm develops and manages a range of private markets products designed to provide capital solutions to middle-market and larger corporate borrowers, as well as liquidity and partnership arrangements with private equity firms and other alternative managers.

Its core activities include direct lending and credit strategies that provide senior, unitranche and other structured loan products to companies across industries.