NewEdge Advisors LLC Buys 74,926 Shares of Blue Owl Capital Inc. $OWL

NewEdge Advisors LLC grew its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 21.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 428,949 shares of the company’s stock after acquiring an additional 74,926 shares during the quarter. NewEdge Advisors LLC’s holdings in Blue Owl Capital were worth $3,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Blue Owl Capital by 50.0% during the first quarter. Royal Bank of Canada now owns 397,990 shares of the company’s stock worth $7,976,000 after purchasing an additional 132,637 shares during the last quarter. Russell Investments Group Ltd. grew its position in Blue Owl Capital by 4.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 44,215 shares of the company’s stock worth $849,000 after purchasing an additional 1,703 shares in the last quarter. Jump Financial LLC purchased a new stake in Blue Owl Capital in the 2nd quarter valued at about $238,000. California Public Employees Retirement System lifted its position in shares of Blue Owl Capital by 28.2% during the 2nd quarter. California Public Employees Retirement System now owns 787,255 shares of the company’s stock worth $15,123,000 after buying an additional 172,982 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Blue Owl Capital by 10.6% during the 2nd quarter. State Street Corp now owns 9,880,565 shares of the company’s stock worth $189,806,000 after buying an additional 950,700 shares in the last quarter. Institutional investors own 35.85% of the company’s stock.

Analysts Set New Price Targets

OWL has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Blue Owl Capital in a report on Thursday, June 18th. TD Cowen reissued a “buy” rating on shares of Blue Owl Capital in a research report on Thursday, August 6th. Barclays upped their price objective 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. Citizens Jmp decreased their target price on Blue Owl Capital from $21.00 to $17.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lowered their target price on Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.44.

Blue Owl Capital Price Performance

Shares of OWL opened at $12.23 on Thursday. Blue Owl Capital Inc. has a 1 year low of $7.95 and a 1 year high of $20.49. The stock’s fifty day moving average price is $9.76 and its two-hundred day moving average price is $10.13. The firm has a market cap of $19.07 billion, a PE ratio of 101.93, a PEG ratio of 1.38 and a beta of 1.19.

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 the consensus estimate of $0.22. Blue Owl Capital had a return on equity of 23.14% and a net margin of 2.71%.The company had revenue of $693.56 million during the quarter, compared to the consensus estimate of $693.15 million. Sell-side analysts anticipate that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.23 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.92 annualized dividend and a dividend yield of 7.5%. Blue Owl Capital’s dividend payout ratio (DPR) is presently 766.67%.

Blue Owl Capital 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.