ICONIQ Capital LLC Has $671.34 Million Position in Blue Owl Capital Inc. $OWL

Key Points

• ICONIQ Capital LLC reduced its stake in Blue Owl Capital Inc. by 0.1%, now holding 33,500,000 shares, which accounts for about 12.4% of its total holdings.
• Several institutional investors increased their positions in Blue Owl Capital during the first quarter, with significant purchases reported by Credit Agricole S A and Northwestern Mutual Wealth Management Co.
• Blue Owl Capital has recently announced a quarterly dividend of $0.225 per share, which translates to an annualized dividend of $0.90 and a yield of 4.8%.

ICONIQ Capital LLC lessened its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 0.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 33,500,000 shares of the company's stock after selling 18,448 shares during the period. Blue Owl Capital makes up approximately 12.4% of ICONIQ Capital LLC's holdings, making the stock its 3rd largest position. ICONIQ Capital LLC owned 2.18% of Blue Owl Capital worth $671,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 7,206,495 shares during the last quarter. Cresset Asset Management LLC raised its stake in Blue Owl Capital by 4,278.0% during the 4th quarter. Cresset Asset Management LLC now owns 6,053,065 shares of the company's stock valued at $140,794,000 after purchasing an additional 5,914,804 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Blue Owl Capital by 637.7% in the 4th quarter. Squarepoint Ops LLC now owns 2,046,747 shares of the company's stock valued at $47,607,000 after purchasing an additional 1,769,302 shares during the period. Raymond James Financial Inc. boosted its holdings in Blue Owl Capital by 150.9% in the 1st quarter. Raymond James Financial Inc. now owns 1,640,109 shares of the company's stock valued at $32,868,000 after purchasing an additional 986,367 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in Blue Owl Capital in the 4th quarter worth $19,543,000. Institutional investors and hedge funds own 35.85% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Raymond James Financial started coverage on shares of Blue Owl Capital in a research note on Monday, July 28th. They issued a "market perform" rating for the company. Oppenheimer raised their price objective 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 upgraded Blue Owl Capital from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $20.00 to $23.00 in a research report on Tuesday, May 20th. Piper Sandler upped their target price on Blue Owl Capital from $22.50 to $23.50 and gave the company an "overweight" rating in a research note on Wednesday, July 2nd. Finally, Cowen reaffirmed a "buy" rating on shares of Blue Owl Capital in a research report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.02.

Blue Owl Capital Stock Up 0.6%

NYSE:OWL traded up $0.12 on Thursday, reaching $18.71. The stock had a trading volume of 3,923,750 shares, compared to its average volume of 7,656,691. The company has a market capitalization of $28.98 billion, a P/E ratio of 207.87, a price-to-earnings-growth ratio of 1.22 and a beta of 1.16. Blue Owl Capital Inc. has a 1-year low of $14.55 and a 1-year high of $26.73. The stock has a fifty day moving average price of $19.40 and a 200-day moving average price of $19.43.

Blue Owl Capital (NYSE:OWL - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.21. The company had revenue of $703.11 million during the quarter, compared to analysts' expectations of $642.13 million. Blue Owl Capital had a net margin of 2.88% and a return on equity of 19.64%. Sell-side analysts predict that Blue Owl Capital Inc. will post 0.92 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. Blue Owl Capital's payout ratio is currently 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.