Raymond James Financial Inc. Increases Stake in Blue Owl Capital Corporation $OBDC

Key Points

• Raymond James Financial Inc. increased its stake in Blue Owl Capital Corporation by 8.4% in the first quarter, owning approximately 2,038,571 shares valued at nearly $30 million.
• Blue Owl Capital recently announced a dividend of $0.02 per share, significantly raised from the previous $0.01, reflecting a remarkably high dividend yield of 1,139.0%.
• The company reported better-than-expected quarterly earnings, with $0.40 EPS surpassing estimates and a net margin of 38.29%.

Raymond James Financial Inc. lifted its holdings in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,038,571 shares of the company's stock after purchasing an additional 158,001 shares during the quarter. Raymond James Financial Inc. owned 0.40% of Blue Owl Capital worth $29,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Golden State Equity Partners lifted its position in Blue Owl Capital by 1.7% in the first quarter. Golden State Equity Partners now owns 45,680 shares of the company's stock worth $670,000 after buying an additional 742 shares during the last quarter. BlueStem Wealth Partners LLC raised its holdings in shares of Blue Owl Capital by 2.5% in the first quarter. BlueStem Wealth Partners LLC now owns 32,741 shares of the company's stock valued at $480,000 after acquiring an additional 784 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Blue Owl Capital by 6.1% in the first quarter. Flagship Harbor Advisors LLC now owns 13,930 shares of the company's stock valued at $204,000 after acquiring an additional 798 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Blue Owl Capital by 2.7% in the first quarter. Avantax Advisory Services Inc. now owns 37,392 shares of the company's stock valued at $548,000 after acquiring an additional 996 shares in the last quarter. Finally, Essex Financial Services Inc. raised its holdings in Blue Owl Capital by 3.3% in the first quarter. Essex Financial Services Inc. now owns 31,300 shares of the company's stock worth $459,000 after purchasing an additional 1,000 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Trading Up 0.1%

Shares of NYSE:OBDC traded up $0.02 during midday trading on Thursday, reaching $14.23. 2,467,667 shares of the company's stock were exchanged, compared to its average volume of 3,187,752. The firm's 50 day simple moving average is $14.45 and its two-hundred day simple moving average is $14.48. Blue Owl Capital Corporation has a fifty-two week low of $12.11 and a fifty-two week high of $15.73. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 9.42 and a beta of 0.74. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.80 and a quick ratio of 0.80.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.40 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $485.84 million during the quarter, compared to analysts' expectations of $480.42 million. As a group, sell-side analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

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

Wall Street Analyst Weigh In

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

Blue Owl Capital 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.