Blue Owl Capital Inc. $OWL Shares Sold by Fred Alger Management LLC

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 lessened its stake in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 980,178 shares of the company's stock after selling 110,923 shares during the period. Fred Alger Management LLC owned 0.06% of Blue Owl Capital worth $19,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of OWL. MassMutual Private Wealth & Trust FSB boosted its stake in Blue Owl Capital by 380.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,326 shares of the company's stock valued at $27,000 after acquiring an additional 1,050 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Blue Owl Capital during the first quarter worth about $31,000. SVB Wealth LLC acquired a new stake in shares of Blue Owl Capital during the first quarter worth about $38,000. Cullen Frost Bankers Inc. boosted its stake in shares of Blue Owl Capital by 39.1% during the first quarter. Cullen Frost Bankers Inc. now owns 2,075 shares of the company's stock worth $42,000 after buying an additional 583 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Blue Owl Capital by 70.5% during the first quarter. Allworth Financial LP now owns 2,414 shares of the company's stock worth $45,000 after buying an additional 998 shares during the period. Institutional investors and hedge funds own 35.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OWL. Piper Sandler increased their price target on shares of Blue Owl Capital from $22.50 to $23.50 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Wells Fargo & Company increased their price target on shares of Blue Owl Capital from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Barclays increased their price target on shares of Blue Owl Capital from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Evercore ISI increased their target price on shares of Blue Owl Capital from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Oppenheimer increased their target price on shares of Blue Owl Capital from $25.00 to $26.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.02.

Blue Owl Capital Stock Up 0.0%

Shares of OWL traded up $0.01 during mid-day trading on Friday, reaching $18.76. 4,643,687 shares of the company's stock were exchanged, compared to its average volume of 7,188,874. Blue Owl Capital Inc. has a 52-week low of $14.55 and a 52-week high of $26.73. The company has a 50-day simple moving average of $19.20 and a two-hundred day simple moving average of $19.02. The company has a market cap of $29.07 billion, a price-to-earnings ratio of 208.46, a PEG ratio of 1.23 and a beta of 1.16.

Blue Owl Capital (NYSE:OWL - Get Free Report) last announced 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. Blue Owl Capital had a net margin of 2.88% and a return on equity of 19.64%. The firm had revenue of $703.11 million for the quarter, compared to analyst estimates of $642.13 million. As a group, equities research analysts predict that Blue Owl Capital Inc. will post 0.92 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Thursday, August 14th. Blue Owl Capital's dividend payout ratio (DPR) is 1,000.00%.

About Blue Owl Capital

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.