Blue Owl Capital Corporation $OBDC Shares Bought by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Blue Owl Capital Corporation by 8.4%, owning approximately 1.02% of the company, amounting to about $76 million.
• Blue Owl Capital reported $0.40 earnings per share for the quarter, exceeding analysts' expectations, and had a net margin of 38.29%.
• The company announced a dividend increase to $0.02 per share from the previous $0.01, signifying a substantial yield of 1,139.0%.

Ameriprise Financial Inc. boosted its position in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,190,522 shares of the company's stock after buying an additional 403,784 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.02% of Blue Owl Capital worth $76,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Equity Partners increased its holdings in Blue Owl Capital by 1.7% in the first quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock valued at $670,000 after buying an additional 742 shares during the last quarter. BlueStem Wealth Partners LLC lifted its holdings in Blue Owl Capital by 2.5% in the first quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock worth $480,000 after acquiring an additional 784 shares during the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Blue Owl Capital by 6.1% in the first quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock worth $204,000 after acquiring an additional 798 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in Blue Owl Capital by 2.7% in the first quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock worth $548,000 after acquiring an additional 996 shares during the last quarter. Finally, Essex Financial Services Inc. lifted its holdings in Blue Owl Capital by 3.3% in the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock worth $459,000 after acquiring an additional 1,000 shares during the last quarter. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Stock Performance

NYSE OBDC traded up $0.12 on Monday, hitting $14.34. The stock had a trading volume of 1,571,156 shares, compared to its average volume of 2,510,817. Blue Owl Capital Corporation has a one year low of $12.11 and a one year high of $15.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 9.49 and a beta of 0.76. The company's 50-day moving average is $14.44 and its two-hundred day moving average is $14.45.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The firm had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. On average, analysts expect that Blue Owl Capital Corporation will post 1.71 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.02 dividend. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date is Friday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.6%. Blue Owl Capital's payout ratio is currently 98.01%.

Analysts Set New Price Targets

OBDC has been the topic of a number of recent research reports. B. Riley initiated coverage on shares of Blue Owl Capital in a report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a "strong-buy" rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a report on Thursday, May 15th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.42.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.