California Public Employees Retirement System Grows Holdings in Blue Owl Capital Inc. $OWL

Key Points

• CalPERS increased its Blue Owl Capital stake by 16% in the first quarter, adding 140,451 shares to bring its total to 1,015,629 shares valued at about $9.27 million.
• Blue Owl Capital reported Q1 earnings in line with expectations, posting $0.19 EPS and revenue of $699.88 million, while analysts still expect $0.87 EPS for the full year.
• The company maintained a hefty dividend yield, paying a $0.23 quarterly dividend that annualizes to $0.92 per share and implies a 9.7% yield, even as analysts’ views remain mixed with a consensus Moderate Buy rating.

California Public Employees Retirement System lifted its position in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,015,629 shares of the company's stock after acquiring an additional 140,451 shares during the quarter. California Public Employees Retirement System owned 0.07% of Blue Owl Capital worth $9,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OWL. Kingswood Wealth Advisors LLC lifted its position in Blue Owl Capital by 1.2% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 76,939 shares of the company's stock valued at $1,149,000 after acquiring an additional 909 shares during the last quarter. Halbert Hargrove Global Advisors LLC grew its holdings in shares of Blue Owl Capital by 83.5% during the fourth quarter. Halbert Hargrove Global Advisors LLC now owns 2,000 shares of the company's stock worth $30,000 after purchasing an additional 910 shares during the last quarter. VestGen Advisors LLC increased its position in shares of Blue Owl Capital by 5.4% during the fourth quarter. VestGen Advisors LLC now owns 17,850 shares of the company's stock worth $267,000 after purchasing an additional 912 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Blue Owl Capital by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 190,579 shares of the company's stock valued at $3,227,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Blue Owl Capital by 1.6% in the 4th quarter. Deutsche Bank AG now owns 77,962 shares of the company's stock valued at $1,165,000 after purchasing an additional 1,222 shares during the last quarter. Hedge funds and other institutional investors own 35.85% of the company's stock.

Blue Owl Capital Stock Up 2.7%

Shares of OWL stock opened at $9.46 on Friday. The stock has a market cap of $14.70 billion, a P/E ratio of 78.80, a P/E/G ratio of 1.02 and a beta of 1.22. Blue Owl Capital Inc. has a fifty-two week low of $7.95 and a fifty-two week high of $20.58. The business has a fifty day simple moving average of $9.49 and a 200-day simple moving average of $10.59.

Blue Owl Capital (NYSE:OWL - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Blue Owl Capital had a net margin of 2.96% and a return on equity of 21.97%. The business had revenue of $699.88 million for the quarter, compared to analyst estimates of $687.23 million. On average, sell-side analysts anticipate that Blue Owl Capital Inc. will post 0.87 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.23. This represents a $0.92 annualized dividend and a yield of 9.7%. Blue Owl Capital's dividend payout ratio (DPR) is 766.67%.

Analysts Set New Price Targets

A number of research firms recently issued reports on OWL. BMO Capital Markets dropped their price target on Blue Owl Capital from $12.00 to $11.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. UBS Group restated a "neutral" rating and issued a $9.50 price objective on shares of Blue Owl Capital in a research report on Thursday, June 11th. Oppenheimer reduced their target price on Blue Owl Capital from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, July 17th. Capital One Financial set a $11.00 target price on shares of Blue Owl Capital in a research report on Monday, July 13th. Finally, Citigroup reiterated a "market outperform" rating on shares of Blue Owl Capital in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Blue Owl Capital currently has an average rating of "Moderate Buy" and a consensus price target of $13.16.

About Blue Owl Capital

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.

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