Ameriprise Financial Inc. Purchases 403,784 Shares of Blue Owl Capital Corporation $OBDC

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. raised its stake in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,190,522 shares of the company's stock after acquiring an additional 403,784 shares during the period. Ameriprise Financial Inc. owned approximately 1.02% of Blue Owl Capital worth $76,083,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Roxbury Financial LLC purchased a new stake in Blue Owl Capital in the first quarter worth approximately $50,000. Lazard Asset Management LLC purchased a new stake in Blue Owl Capital during the fourth quarter valued at $49,000. Zions Bancorporation National Association UT bought a new position in Blue Owl Capital in the first quarter valued at about $59,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Blue Owl Capital in the 1st quarter worth approximately $61,000. Finally, Versant Capital Management Inc purchased a new position in shares of Blue Owl Capital in the first quarter worth approximately $63,000. 42.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Blue Owl Capital Price Performance

Shares of NYSE:OBDC traded up $0.12 during trading on Friday, hitting $14.34. 1,571,156 shares of the company's stock were exchanged, compared to its average volume of 2,584,459. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80. Blue Owl Capital Corporation has a 52-week low of $12.11 and a 52-week high of $15.73. The business's 50-day simple moving average is $14.44 and its 200 day simple moving average is $14.47. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 9.49 and a beta of 0.74.

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

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Blue Owl Capital's dividend payout ratio is currently 98.01%.

Blue Owl Capital Profile

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.