Legal & General Group Plc Buys Shares of 537,152 Blue Owl Capital Inc. $OWL

Key Points

• Legal & General Group acquired 537,152 shares of Blue Owl Capital worth approximately $5.84 million, while institutional investors collectively own 35.85% of the company.
• Blue Owl reported quarterly EPS of $0.22, in line with estimates, and revenue of $693.56 million. The company also paid a quarterly dividend of $0.23, equivalent to an annualized yield of 7.8%.
• OWL shares opened at $11.80, up 1.7%, while analysts maintained a generally positive view with a “Moderate Buy” consensus rating and an average price target of $13.57.

Legal & General Group Plc acquired a new stake in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 537,152 shares of the company's stock, valued at approximately $5,836,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OWL. Capital World Investors lifted its position in shares of Blue Owl Capital by 5.9% during the fourth quarter. Capital World Investors now owns 90,245,690 shares of the company's stock worth $1,348,272,000 after acquiring an additional 5,029,134 shares in the last quarter. Capital International Investors raised its stake in shares of Blue Owl Capital by 4.3% during the 4th quarter. Capital International Investors now owns 65,402,615 shares of the company's stock valued at $977,118,000 after purchasing an additional 2,676,281 shares during the period. Bank of America Corp DE lifted its holdings in Blue Owl Capital by 8.4% during the 3rd quarter. Bank of America Corp DE now owns 22,563,953 shares of the company's stock worth $382,008,000 after purchasing an additional 1,751,024 shares in the last quarter. Boston Partners lifted its holdings in Blue Owl Capital by 16.2% during the 4th quarter. Boston Partners now owns 14,123,877 shares of the company's stock worth $211,270,000 after purchasing an additional 1,970,101 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Blue Owl Capital by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 11,709,690 shares of the company's stock worth $174,980,000 after purchasing an additional 555,371 shares during the period. Institutional investors own 35.85% of the company's stock.

Blue Owl Capital Stock Up 1.7%

Shares of OWL opened at $11.80 on Friday. The stock has a market capitalization of $18.40 billion, a P/E ratio of 98.34, a PEG ratio of 1.28 and a beta of 1.22. Blue Owl Capital Inc. has a twelve month low of $7.95 and a twelve month high of $19.29. The firm has a fifty day simple moving average of $10.54 and a two-hundred day simple moving average of $9.98.

Blue Owl Capital (NYSE:OWL - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $693.56 million for the quarter, compared to analysts' expectations of $693.15 million. Blue Owl Capital had a return on equity of 23.14% and a net margin of 2.71%. Sell-side analysts expect that Blue Owl Capital Inc. will post 0.88 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend was Thursday, August 13th. Blue Owl Capital's payout ratio is 766.67%.

Analysts Set New Price Targets

OWL has been the subject of several analyst reports. Oppenheimer raised their price target on shares of Blue Owl Capital from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. The Goldman Sachs Group increased their price objective on Blue Owl Capital from $9.50 to $10.50 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Citizens Jmp dropped their price objective on Blue Owl Capital from $21.00 to $17.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Citigroup restated a "market outperform" rating on shares of Blue Owl Capital in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upgraded Blue Owl Capital to a "hold" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Blue Owl Capital presently has an average rating of "Moderate Buy" and a consensus target price of $13.57.

Blue Owl Capital Company Profile

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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