BlackRock Inc. Acquires New Position in Blue Owl Capital Inc. $OWL

Key Points

• BlackRock acquired 1.95 million shares of Blue Owl Capital during the second quarter, valued at approximately $21.1 million and representing about 0.13% of the company. Institutional investors collectively own 35.85% of OWL.
• Blue Owl reported quarterly EPS of $0.22, matching analyst expectations, on revenue of $693.56 million. The company declared a quarterly dividend of $0.23, equivalent to a 7.9% annualized yield.
• OWL shares opened at $11.61, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $13.57.

BlackRock Inc. acquired a new position in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,945,430 shares of the company's stock, valued at approximately $21,147,000. BlackRock Inc. owned approximately 0.13% of Blue Owl Capital at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Blue Owl Capital by 50.0% during the 1st quarter. Royal Bank of Canada now owns 397,990 shares of the company's stock worth $7,976,000 after acquiring an additional 132,637 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Blue Owl Capital by 4.0% in the second quarter. Russell Investments Group Ltd. now owns 44,215 shares of the company's stock valued at $849,000 after purchasing an additional 1,703 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Blue Owl Capital in the second quarter valued at $238,000. California Public Employees Retirement System raised its stake 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 during the last quarter. Finally, State Street Corp raised its stake 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 during the last quarter. 35.85% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Performance

Shares of OWL opened at $11.61 on Thursday. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 96.78, a PEG ratio of 1.29 and a beta of 1.22. The company's 50 day simple moving average is $10.47 and its 200 day simple moving average is $9.98. Blue Owl Capital Inc. has a 1 year low of $7.95 and a 1 year high of $19.29.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.22 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 firm had revenue of $693.56 million during the quarter, compared to analysts' expectations of $693.15 million. Equities analysts expect that Blue Owl Capital Inc. will post 0.88 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.9%. The ex-dividend date was Thursday, August 13th. Blue Owl Capital's dividend payout ratio is presently 766.67%.

Wall Street Analyst Weigh In

OWL has been the topic of a number of research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of Blue Owl Capital in a research note on Thursday, June 18th. Citigroup reaffirmed a "market outperform" rating on shares of Blue Owl Capital in a report on Thursday, July 9th. BMO Capital Markets raised their price objective on shares of Blue Owl Capital from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Citizens Jmp reduced their target price on Blue Owl Capital from $21.00 to $17.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upgraded Blue Owl Capital to a "hold" rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.57.

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.

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