State of New Jersey Common Pension Fund D Sells 18,186 Shares of Blue Owl Capital Inc. $OWL

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Blue Owl Capital by 9.7%, now holding 169,845 shares valued at approximately $3.4 million.
• Blue Owl Capital recently reported a quarterly earnings of $0.21 EPS, meeting consensus estimates, alongside revenue of $703.11 million.
• The company announced a quarterly dividend of $0.225 per share, resulting in an annualized yield of 4.8%.

State of New Jersey Common Pension Fund D decreased its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,845 shares of the company's stock after selling 18,186 shares during the period. State of New Jersey Common Pension Fund D's holdings in Blue Owl Capital were worth $3,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OWL. Russell Investments Group Ltd. raised its position in Blue Owl Capital by 3.5% during the 4th quarter. Russell Investments Group Ltd. now owns 31,465 shares of the company's stock valued at $732,000 after purchasing an additional 1,064 shares during the last quarter. Mariner LLC raised its position in Blue Owl Capital by 4.2% during the 4th quarter. Mariner LLC now owns 52,296 shares of the company's stock valued at $1,216,000 after purchasing an additional 2,116 shares during the last quarter. GeoWealth Management LLC raised its position in Blue Owl Capital by 572.7% during the 4th quarter. GeoWealth Management LLC now owns 5,886 shares of the company's stock valued at $137,000 after purchasing an additional 5,011 shares during the last quarter. First Trust Advisors LP raised its position in Blue Owl Capital by 12.4% during the 4th quarter. First Trust Advisors LP now owns 1,190,733 shares of the company's stock valued at $27,696,000 after purchasing an additional 131,225 shares during the last quarter. Finally, Ossiam raised its position in Blue Owl Capital by 43.6% during the 4th quarter. Ossiam now owns 17,991 shares of the company's stock valued at $418,000 after purchasing an additional 5,466 shares during the last quarter. Institutional investors own 35.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. UBS Group lowered their price target on Blue Owl Capital from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI upped their target price on Blue Owl Capital from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Raymond James Financial initiated coverage on Blue Owl Capital in a report on Monday, July 28th. They set a "market perform" rating on the stock. Piper Sandler upped their target price on Blue Owl Capital from $22.50 to $23.50 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, Oppenheimer upped their target price on Blue Owl Capital from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.02.

Blue Owl Capital Stock Performance

Shares of Blue Owl Capital stock traded up $0.2350 during midday trading on Friday, hitting $18.7950. The company had a trading volume of 4,265,621 shares, compared to its average volume of 7,205,337. The stock has a market capitalization of $29.12 billion, a P/E ratio of 208.86, a P/E/G ratio of 1.23 and a beta of 1.16. The company has a 50 day moving average of $19.40 and a 200 day moving average of $19.51. Blue Owl Capital Inc. has a 52-week low of $14.55 and a 52-week high of $26.73.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.21. The business had revenue of $703.11 million for the quarter, compared to analysts' expectations of $642.13 million. Blue Owl Capital had a return on equity of 19.64% and a net margin of 2.88%. Equities research analysts forecast that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Announces Dividend

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

Blue Owl Capital 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.