Raymond James Financial Inc. Acquires 158,001 Shares of 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 position in shares of Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 8.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,038,571 shares of the company's stock after acquiring an additional 158,001 shares during the quarter. Raymond James Financial Inc. owned approximately 0.40% of Blue Owl Capital worth $29,885,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Roxbury Financial LLC bought a new position in shares of Blue Owl Capital during the 1st quarter worth $50,000. Lazard Asset Management LLC bought a new position in shares of Blue Owl Capital during the 4th quarter worth $49,000. Zions Bancorporation National Association UT bought a new position in shares of Blue Owl Capital during the 1st quarter worth $59,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Blue Owl Capital during the 1st quarter worth $61,000. Finally, Versant Capital Management Inc bought a new position in shares of Blue Owl Capital during the 1st quarter worth $63,000. Institutional investors own 42.83% of the company's stock.

Analyst Ratings Changes

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

Blue Owl Capital Price Performance

NYSE OBDC traded up $0.12 during trading hours on Friday, hitting $14.34. The company had a trading volume of 1,571,156 shares, compared to its average volume of 2,584,459. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 9.49 and a beta of 0.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50 day simple moving average of $14.44 and a 200 day simple moving average of $14.46. Blue Owl Capital Corporation has a 52 week low of $12.11 and a 52 week high of $15.73.

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

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.02 per share. This is a boost 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 dividend yield of 0.6%. Blue Owl Capital's dividend payout ratio is 98.01%.

About Blue Owl Capital

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.