Blue Owl Capital Corporation $OBDC Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. lessened its holdings in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 13.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 430,540 shares of the company’s stock after selling 69,317 shares during the quarter. Johnson Financial Group Inc.’s holdings in Blue Owl Capital were worth $5,651,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Caz Investments LP acquired a new stake in shares of Blue Owl Capital in the third quarter worth approximately $14,357,000. OMERS ADMINISTRATION Corp purchased a new stake in Blue Owl Capital during the 2nd quarter worth about $15,212,000. Van ECK Associates Corp increased its stake in Blue Owl Capital by 6.0% in the third quarter. Van ECK Associates Corp now owns 13,364,378 shares of the company’s stock valued at $170,663,000 after acquiring an additional 757,203 shares during the period. UBS Group AG boosted its position in Blue Owl Capital by 12.7% during the third quarter. UBS Group AG now owns 6,065,592 shares of the company’s stock valued at $77,458,000 after acquiring an additional 681,444 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in Blue Owl Capital by 4.3% in the second quarter. Bank of America Corp DE now owns 12,463,438 shares of the company’s stock worth $178,726,000 after purchasing an additional 517,294 shares during the last quarter. 42.83% of the stock is currently owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $10.99 on Friday. The stock has a 50-day simple moving average of $11.90 and a 200 day simple moving average of $12.66. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 8.86 and a beta of 0.67. Blue Owl Capital Corporation has a 12-month low of $10.70 and a 12-month high of $15.36.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The firm had revenue of $439.50 million during the quarter, compared to analysts’ expectations of $454.38 million. Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%. On average, research analysts anticipate that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 13.5%. The ex-dividend date of this dividend is Tuesday, March 31st. Blue Owl Capital’s payout ratio is currently 119.35%.

Blue Owl Capital declared that its board has approved a share repurchase plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OBDC. Keefe, Bruyette & Woods dropped their price target on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating for the company in a report on Monday, February 23rd. Wall Street Zen downgraded Blue Owl Capital from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Royal Bank Of Canada dropped their price target on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Truist Financial decreased their price objective on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.06.

Blue Owl Capital Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.