Ameriprise Financial Inc. Reduces Position in Blue Owl Capital Inc. $OWL

Key Points

• Ameriprise Financial Inc. decreased its stake in Blue Owl Capital by 15.4%, resulting in ownership of approximately 2.4 million shares valued at about $48 million as of the latest SEC filing.
• Blue Owl Capital reported earnings of $0.21 EPS for the quarter, in line with analysts' expectations, and had a revenue of $703.11 million, exceeding expected revenue by a significant margin.
• The company announced a quarterly dividend of $0.225 per share, translating to an annualized yield of 4.8%, though it has a very high dividend payout ratio of 1,000%.

Ameriprise Financial Inc. reduced its stake in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 15.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400,445 shares of the company's stock after selling 437,534 shares during the quarter. Ameriprise Financial Inc. owned about 0.16% of Blue Owl Capital worth $48,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Blue Owl Capital by 13.5% in the first quarter. Vanguard Group Inc. now owns 60,412,887 shares of the company's stock valued at $1,210,674,000 after purchasing an additional 7,206,495 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Blue Owl Capital by 4.6% in the first quarter. JPMorgan Chase & Co. now owns 9,671,728 shares of the company's stock worth $193,821,000 after purchasing an additional 422,745 shares in the last quarter. Federated Hermes Inc. raised its holdings in Blue Owl Capital by 0.4% in the first quarter. Federated Hermes Inc. now owns 6,901,500 shares of the company's stock worth $138,306,000 after purchasing an additional 24,800 shares in the last quarter. Cresset Asset Management LLC grew its stake in shares of Blue Owl Capital by 1.4% during the first quarter. Cresset Asset Management LLC now owns 6,140,749 shares of the company's stock worth $123,061,000 after acquiring an additional 87,684 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Blue Owl Capital by 1.9% during the first quarter. Westfield Capital Management Co. LP now owns 5,553,781 shares of the company's stock worth $111,298,000 after purchasing an additional 101,307 shares during the period. 35.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on OWL shares. Keefe, Bruyette & Woods raised Blue Owl Capital from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $20.00 to $23.00 in a report on Tuesday, May 20th. Barclays boosted their price target on Blue Owl Capital from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Oppenheimer boosted their price target on Blue Owl Capital from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Evercore ISI boosted their price target on Blue Owl Capital from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their price target on Blue Owl Capital from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Friday, May 23rd. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.02.

Blue Owl Capital Trading Down 1.3%

NYSE:OWL traded down $0.25 during trading hours on Tuesday, hitting $18.28. The company had a trading volume of 2,567,469 shares, compared to its average volume of 7,615,250. The company has a 50-day moving average of $19.39 and a 200 day moving average of $19.26. The company has a market cap of $28.32 billion, a P/E ratio of 203.17, a P/E/G ratio of 1.21 and a beta of 1.16. Blue Owl Capital Inc. has a 1 year low of $14.55 and a 1 year high of $26.73.

Blue Owl Capital (NYSE:OWL - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $703.11 million during the quarter, compared to analysts' expectations of $642.13 million. Blue Owl Capital had a return on equity of 19.64% and a net margin of 2.88%. On average, analysts forecast that Blue Owl Capital Inc. will post 0.92 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.225 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.90 dividend on an annualized basis and a yield of 4.9%. Blue Owl Capital's dividend payout ratio (DPR) is currently 1,000.00%.

About Blue Owl Capital

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.