Blue Owl Capital Inc. $OWL Shares Acquired by Cresset Asset Management LLC

Key Points

• Cresset Asset Management boosted its stake in Blue Owl by 1,345% in Q3, adding 1,284,021 shares to hold 1,379,485 shares worth about $23.36 million (0.09% of the company).
• Blue Owl paid a quarterly dividend of $0.225 (annualized $0.90), implying a 8.7% yield with a dividend payout ratio of 900% (paid March 2), a level that the filing highlights as unusually high.
• In the latest quarter Blue Owl reported EPS of $0.27 (vs. $0.22 est.), while revenue missed at $701.47 million (vs. $712.75 million est.); analysts hold a "Moderate Buy" consensus with an average target of $18 and mixed individual ratings.

Cresset Asset Management LLC raised its stake in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 1,345.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,379,485 shares of the company's stock after purchasing an additional 1,284,021 shares during the period. Cresset Asset Management LLC owned 0.09% of Blue Owl Capital worth $23,355,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Partners Group Holding AG boosted its position in Blue Owl Capital by 8.3% during the third quarter. Partners Group Holding AG now owns 1,940,155 shares of the company's stock worth $32,847,000 after acquiring an additional 149,292 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Blue Owl Capital by 185.2% during the third quarter. Oppenheimer & Co. Inc. now owns 136,956 shares of the company's stock worth $2,319,000 after acquiring an additional 88,935 shares during the last quarter. Truist Financial Corp increased its position in shares of Blue Owl Capital by 7.8% during the 3rd quarter. Truist Financial Corp now owns 1,062,214 shares of the company's stock worth $17,983,000 after purchasing an additional 76,942 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Blue Owl Capital in the 3rd quarter valued at approximately $3,135,000. Finally, Commons Capital LLC purchased a new stake in Blue Owl Capital in the third quarter valued at approximately $2,071,000. 35.85% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Stock Up 0.6%

Shares of NYSE OWL opened at $10.33 on Thursday. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 103.31, a price-to-earnings-growth ratio of 0.85 and a beta of 1.15. Blue Owl Capital Inc. has a 52 week low of $9.73 and a 52 week high of $21.88. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $15.56.

Blue Owl Capital (NYSE:OWL - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. Blue Owl Capital had a net margin of 2.75% and a return on equity of 20.93%. The company had revenue of $701.47 million for the quarter, compared to analyst estimates of $712.75 million. Equities research analysts expect that Blue Owl Capital Inc. will post 0.92 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 20th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend was Friday, February 20th. Blue Owl Capital's dividend payout ratio (DPR) is presently 900.00%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen reiterated a "buy" rating on shares of Blue Owl Capital in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft downgraded shares of Blue Owl Capital from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $15.00 to $10.00 in a research report on Tuesday, February 24th. Oppenheimer dropped their price target on Blue Owl Capital from $24.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday. Evercore set a $14.00 price objective on shares of Blue Owl Capital in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Blue Owl Capital in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.