Envestnet Asset Management Inc. Purchases 243,658 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Envestnet Asset Management Inc. increased its holdings in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 36.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 917,980 shares of the company's stock after buying an additional 243,658 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Blue Owl Capital worth $18,396,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Blue Owl Capital by 380.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,326 shares of the company's stock worth $27,000 after acquiring an additional 1,050 shares during the period. State of Wyoming lifted its stake in shares of Blue Owl Capital by 27.1% in the 4th quarter. State of Wyoming now owns 2,359 shares of the company's stock worth $55,000 after acquiring an additional 503 shares during the period. Parallel Advisors LLC raised its holdings in shares of Blue Owl Capital by 21.9% in the 1st quarter. Parallel Advisors LLC now owns 6,468 shares of the company's stock worth $130,000 after purchasing an additional 1,161 shares in the last quarter. GeoWealth Management LLC raised its holdings in shares of Blue Owl Capital by 572.7% in the 4th quarter. GeoWealth Management LLC now owns 5,886 shares of the company's stock worth $137,000 after purchasing an additional 5,011 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Blue Owl Capital by 20.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,687 shares of the company's stock worth $156,000 after purchasing an additional 1,117 shares in the last quarter. 35.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on OWL shares. Piper Sandler boosted their target price 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. JMP Securities dropped their target price on shares of Blue Owl Capital from $32.00 to $28.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 8th. Citigroup dropped their target price on shares of Blue Owl Capital from $30.00 to $23.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Oppenheimer upped their price target on shares of Blue Owl Capital from $25.00 to $26.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company upped their price target on shares of Blue Owl Capital from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Blue Owl Capital presently has an average rating of "Moderate Buy" and a consensus price target of $24.02.

Blue Owl Capital Stock Down 2.8%

Blue Owl Capital stock traded down $0.59 during midday trading on Monday, hitting $20.03. 5,036,378 shares of the stock were exchanged, compared to its average volume of 6,992,316. The company has a fifty day simple moving average of $19.13 and a two-hundred day simple moving average of $20.33. Blue Owl Capital Inc. has a 52 week low of $14.55 and a 52 week high of $26.73. The stock has a market capitalization of $30.80 billion, a PE ratio of 154.05, a P/E/G ratio of 1.41 and a beta of 1.17.

Blue Owl Capital (NYSE:OWL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.03). Blue Owl Capital had a net margin of 3.73% and a return on equity of 19.74%. The company had revenue of $620.19 million during the quarter, compared to the consensus estimate of $636.44 million. As a group, equities research analysts anticipate that Blue Owl Capital Inc. will post 0.92 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.49%. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, May 14th. Blue Owl Capital's payout ratio is presently 692.31%.

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.