Northern Trust Corp Buys 608,518 Shares of Blue Owl Capital Corporation $OBDC

Key Points

• Northern Trust Corp has significantly increased its stake in Blue Owl Capital, acquiring an additional 608,518 shares, bringing its total ownership to 753,720 shares, valued at approximately $11 million.
• Several large investors have also boosted their holdings in Blue Owl Capital, with Jane Street Group increasing its position by 349.3% in the fourth quarter.
• Blue Owl Capital recently announced a quarterly dividend increase to $0.02, marking a rise from the previous quarterly dividend of $0.01, and representing a 0.6% annual yield.

Northern Trust Corp increased its position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 419.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 753,720 shares of the company's stock after buying an additional 608,518 shares during the quarter. Northern Trust Corp owned about 0.15% of Blue Owl Capital worth $11,050,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Blue Owl Capital during the 4th quarter worth approximately $49,000. Roxbury Financial LLC purchased a new stake in shares of Blue Owl Capital in the first quarter worth approximately $50,000. Zions Bancorporation National Association UT purchased a new stake in shares of Blue Owl Capital in the first quarter worth approximately $59,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Blue Owl Capital in the first quarter worth approximately $61,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Blue Owl Capital in the first quarter worth approximately $63,000. 42.83% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Stock Performance

NYSE OBDC traded down $0.05 on Wednesday, hitting $14.14. 1,756,542 shares of the stock traded hands, compared to its average volume of 2,358,373. The business's fifty day moving average is $14.41 and its two-hundred day moving average is $14.40. Blue Owl Capital Corporation has a 12 month low of $12.11 and a 12 month high of $15.73. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 9.36 and a beta of 0.76. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. Blue Owl Capital had a return on equity of 11.24% and a net margin of 38.29%.The business had revenue of $485.84 million during the quarter, compared to analyst estimates of $480.42 million. As a group, equities analysts anticipate that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, August 29th. Blue Owl Capital's dividend payout ratio is currently 98.01%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. B. Riley assumed coverage on Blue Owl Capital in a research note on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price objective for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 15th. Finally, LADENBURG THALM/SH SH raised Blue Owl Capital to a "strong-buy" rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Blue Owl Capital has a consensus rating of "Buy" and an average target price of $15.42.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.