Fred Alger Management LLC Has $19.64 Million Stock Position in Blue Owl Capital Inc. $OWL

Key Points

• Fred Alger Management LLC reduced its stake in Blue Owl Capital Inc. by 10.2%, holding 980,178 shares after selling 110,923 shares in the first quarter.
• Blue Owl Capital reported $703.11 million in revenue for the last quarter, exceeding analysts' expectations of $642.13 million.
• The company recently declared a quarterly dividend of $0.225 per share, resulting in an annualized yield of 5.0%.

Fred Alger Management LLC cut its position in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 980,178 shares of the company's stock after selling 110,923 shares during the quarter. Fred Alger Management LLC owned 0.06% of Blue Owl Capital worth $19,643,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Blue Owl Capital by 13.5% during the first quarter. Vanguard Group Inc. now owns 60,412,887 shares of the company's stock worth $1,210,674,000 after purchasing an additional 7,206,495 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Blue Owl Capital by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 9,671,728 shares of the company's stock worth $193,821,000 after purchasing an additional 422,745 shares during the last quarter. Federated Hermes Inc. increased its position in Blue Owl Capital by 0.4% in the first quarter. Federated Hermes Inc. now owns 6,901,500 shares of the company's stock worth $138,306,000 after buying an additional 24,800 shares during the period. Beck Mack & Oliver LLC increased its position in Blue Owl Capital by 12.1% in the first quarter. Beck Mack & Oliver LLC now owns 6,777,668 shares of the company's stock worth $135,824,000 after buying an additional 732,452 shares during the period. Finally, Cresset Asset Management LLC increased its position in Blue Owl Capital by 1.4% in the first quarter. Cresset Asset Management LLC now owns 6,140,749 shares of the company's stock worth $123,061,000 after buying an additional 87,684 shares during the period. 35.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OWL has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Blue Owl Capital from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Oppenheimer increased their target price on Blue Owl Capital from $25.00 to $26.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Keefe, Bruyette & Woods raised Blue Owl Capital from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $20.00 to $23.00 in a research report on Tuesday, May 20th. Raymond James Financial initiated coverage on Blue Owl Capital in a research report on Monday, July 28th. They issued a "market perform" rating on the stock. Finally, Evercore ISI increased their target price on Blue Owl Capital from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.02.

Blue Owl Capital Price Performance

Shares of OWL traded up $0.01 during trading hours on Friday, reaching $18.76. 4,643,687 shares of the company's stock traded hands, compared to its average volume of 7,049,543. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 208.46, a P/E/G ratio of 1.23 and a beta of 1.16. Blue Owl Capital Inc. has a twelve month low of $14.55 and a twelve month high of $26.73. The business's fifty day simple moving average is $19.20 and its two-hundred day simple moving average is $18.99.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.21. The firm had revenue of $703.11 million for the quarter, compared to analyst estimates of $642.13 million. Blue Owl Capital had a return on equity of 19.64% and a net margin of 2.88%. On average, equities research analysts expect that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Thursday, August 14th. Blue Owl Capital's payout ratio is presently 1,000.00%.

Blue Owl Capital Company Profile

Blue Owl Capital Inc operates as an asset manager in the United States. The company offers permanent capital base solutions that enables it to offer holistic framework of capital solutions to middle market companies, large alternative asset managers, and corporate real estate owners and tenants. It also provides direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies; liquid credit; GP strategic capital products, which offers capital solutions, including GP minority stakes, GP debt financing, and professional sports minority stakes; and real estate products that focuses on acquiring triple net lease real estate by investment grade or creditworthy tenants.