Raymond James Financial Inc. Grows Stake in Blue Owl Capital Inc. $OWL

Key Points

• Raymond James Financial Inc. increased its position in Blue Owl Capital Inc. by 150.9%, owning over 1.6 million shares valued at approximately $32.87 million.
• Blue Owl Capital reported $0.21 earnings per share, meeting analyst estimates, and had revenue of $703.11 million, exceeding expectations.
• Blue Owl Capital announced a quarterly dividend of $0.225, representing a 4.8% yield, with a payout ratio currently at 1,000%.

Raymond James Financial Inc. boosted its position in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 150.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,640,109 shares of the company's stock after purchasing an additional 986,367 shares during the period. Raymond James Financial Inc. owned about 0.11% of Blue Owl Capital worth $32,868,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of OWL. Vise Technologies Inc. increased its holdings in shares of Blue Owl Capital by 4.6% during the fourth quarter. Vise Technologies Inc. now owns 10,947 shares of the company's stock worth $255,000 after purchasing an additional 478 shares during the period. Teza Capital Management LLC increased its holdings in shares of Blue Owl Capital by 1.7% during the fourth quarter. Teza Capital Management LLC now owns 28,929 shares of the company's stock worth $673,000 after purchasing an additional 485 shares during the period. State of Wyoming increased its holdings in shares of Blue Owl Capital by 27.1% during the fourth quarter. State of Wyoming now owns 2,359 shares of the company's stock worth $55,000 after purchasing an additional 503 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Blue Owl Capital by 39.1% during the first quarter. Cullen Frost Bankers Inc. now owns 2,075 shares of the company's stock worth $42,000 after purchasing an additional 583 shares during the period. Finally, Benjamin Edwards Inc. increased its holdings in shares of Blue Owl Capital by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 22,888 shares of the company's stock worth $532,000 after purchasing an additional 658 shares during the period. 35.85% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Price Performance

NYSE OWL traded down $0.19 during mid-day trading on Friday, reaching $18.50. 5,951,308 shares of the stock were exchanged, compared to its average volume of 6,235,361. Blue Owl Capital Inc. has a one year low of $14.55 and a one year high of $26.73. The stock has a 50 day simple moving average of $19.39 and a 200-day simple moving average of $19.36. The stock has a market cap of $28.67 billion, a P/E ratio of 205.58, a P/E/G ratio of 1.23 and a beta of 1.16.

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

Blue Owl Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, August 14th. Blue Owl Capital's payout ratio is 1,000.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OWL. Oppenheimer raised their target price on shares of Blue Owl Capital from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Evercore ISI lifted their price objective on shares of Blue Owl Capital from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised shares of Blue Owl Capital from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $20.00 to $23.00 in a research note on Tuesday, May 20th. Raymond James Financial initiated coverage on shares of Blue Owl Capital in a research note on Monday, July 28th. They issued a "market perform" rating on the stock. Finally, Barclays lifted their price objective on shares of Blue Owl Capital from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Blue Owl Capital currently has an average rating of "Moderate Buy" and an average target price of $24.02.

About Blue Owl Capital

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.