Bank of New York Mellon Corp Boosts Stake in Blue Owl Capital Inc. $OWL

Bank of New York Mellon Corp grew its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,832,784 shares of the company's stock after buying an additional 488,091 shares during the quarter. Bank of New York Mellon Corp owned 0.38% of Blue Owl Capital worth $53,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arax Advisory Partners bought a new stake in shares of Blue Owl Capital during the fourth quarter worth $25,000. Toronto Dominion Bank bought a new stake in Blue Owl Capital during the 4th quarter valued at about $26,000. Lavaca Capital LLC purchased a new stake in Blue Owl Capital in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC grew its stake in Blue Owl Capital by 83.5% in the 4th quarter. Halbert Hargrove Global Advisors LLC now owns 2,000 shares of the company's stock worth $30,000 after acquiring an additional 910 shares in the last quarter. Finally, Center for Financial Planning Inc. increased its position in shares of Blue Owl Capital by 2,100.0% during the first quarter. Center for Financial Planning Inc. now owns 4,400 shares of the company's stock worth $40,000 after acquiring an additional 4,200 shares during the period. 35.85% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $9.21 on Friday. Blue Owl Capital Inc. has a one year low of $7.95 and a one year high of $20.68. The stock has a market cap of $14.31 billion, a PE ratio of 76.71, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. The stock has a 50-day moving average of $9.49 and a two-hundred day moving average of $10.60.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. The company had revenue of $699.88 million during the quarter, compared to analysts' expectations of $687.23 million. As a group, sell-side analysts predict that Blue Owl Capital Inc. will post 0.87 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.92 dividend on an annualized basis and a yield of 10.0%. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.23. Blue Owl Capital's payout ratio is presently 766.67%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OWL. Barclays dropped their price objective on Blue Owl Capital from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 9th. Capital One Financial set a $11.00 price objective on Blue Owl Capital in a report on Monday, July 13th. TD Cowen reissued a "buy" rating and set a $14.00 target price on shares of Blue Owl Capital in a research report on Monday, May 18th. Keefe, Bruyette & Woods upgraded shares of Blue Owl Capital to a "hold" rating in a research note on Monday. Finally, Citizens Jmp lowered their target price on Blue Owl Capital from $21.00 to $17.00 and set a "market outperform" rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Blue Owl Capital has a consensus rating of "Moderate Buy" and a consensus target price of $13.16.

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.

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