Bank of New York Mellon Corp Invests $54.88 Million in Blue Owl Capital Inc. $OWL

Key Points

• Bank of New York Mellon acquired 6.27 million Blue Owl Capital shares worth approximately $54.9 million during the second quarter, giving it a 0.40% stake. Institutional investors and hedge funds collectively own 35.85% of OWL.
• Blue Owl reported quarterly revenue of $693.56 million and adjusted earnings of $0.22 per share, both broadly in line with analyst expectations. Shares opened at $11.82, while analysts’ average price target is $13.44 and the consensus rating is “Moderate Buy.”
• The company declared a quarterly dividend of $0.23 per share, equivalent to an annualized $0.92 payout and a 7.8% yield; however, its reported payout ratio is elevated at 766.67%.

Bank of New York Mellon Corp purchased a new position in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,272,339 shares of the company's stock, valued at approximately $54,883,000. Bank of New York Mellon Corp owned 0.40% of Blue Owl Capital at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OWL. Norges Bank acquired a new stake in shares of Blue Owl Capital in the 4th quarter valued at $140,643,000. William Blair Investment Management LLC purchased a new stake in shares of Blue Owl Capital during the 4th quarter worth $113,782,000. Boston Partners grew its stake in shares of Blue Owl Capital by 121.9% during the third quarter. Boston Partners now owns 12,153,776 shares of the company's stock worth $205,493,000 after purchasing an additional 6,677,610 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Blue Owl Capital by 2,107.1% during the first quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company's stock worth $55,375,000 after purchasing an additional 5,790,400 shares in the last quarter. Finally, Capital World Investors increased its holdings in Blue Owl Capital by 5.9% in the fourth quarter. Capital World Investors now owns 90,245,690 shares of the company's stock valued at $1,348,272,000 after buying an additional 5,029,134 shares during the last quarter. Institutional investors and hedge funds own 35.85% of the company's stock.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $11.82 on Thursday. The firm's fifty day simple moving average is $10.19 and its 200-day simple moving average is $10.01. Blue Owl Capital Inc. has a 12 month low of $7.95 and a 12 month high of $19.29. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 98.51, a PEG ratio of 1.30 and a beta of 1.19.

Blue Owl Capital (NYSE:OWL - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. The company had revenue of $693.56 million for the quarter, compared to the consensus estimate of $693.15 million. Analysts anticipate that Blue Owl Capital Inc. will post 0.88 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.8%. The ex-dividend date is Thursday, August 13th. Blue Owl Capital's payout ratio is 766.67%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OWL. Citigroup restated a "market outperform" rating on shares of Blue Owl Capital in a research note on Thursday, July 9th. Barclays raised their price objective on shares of Blue Owl Capital from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Capital One Financial set a $12.00 price objective on shares of Blue Owl Capital in a research report on Monday, August 3rd. Citizens Jmp lowered their target price on shares of 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. Finally, BMO Capital Markets increased their target price on shares of Blue Owl Capital from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. One investment 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. According to MarketBeat.com, Blue Owl Capital has an average rating of "Moderate Buy" and an average target price of $13.44.

About Blue Owl Capital

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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