Royal Bank of Canada Boosts Stock Position in Blue Owl Capital Co. (NYSE:OBDC)

Royal Bank of Canada increased its stake in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,387,300 shares of the company's stock after buying an additional 620,521 shares during the period. Royal Bank of Canada owned 1.89% of Blue Owl Capital worth $111,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atria Wealth Solutions Inc. grew its stake in shares of Blue Owl Capital by 1.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 65,873 shares of the company's stock worth $1,014,000 after buying an additional 685 shares during the last quarter. Amplius Wealth Advisors LLC grew its stake in shares of Blue Owl Capital by 1.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 40,687 shares of the company's stock worth $615,000 after buying an additional 702 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Blue Owl Capital by 9.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company's stock worth $197,000 after buying an additional 1,083 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Blue Owl Capital by 9.5% in the 4th quarter. Blue Trust Inc. now owns 15,261 shares of the company's stock worth $222,000 after buying an additional 1,321 shares during the last quarter. Finally, Csenge Advisory Group grew its stake in shares of Blue Owl Capital by 2.6% in the 4th quarter. Csenge Advisory Group now owns 55,064 shares of the company's stock worth $833,000 after buying an additional 1,373 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company's stock.

Insider Activity

In related news, Director Chris Temple bought 15,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $14.80 per share, with a total value of $222,000.00. Following the acquisition, the director now owns 51,000 shares in the company, valued at $754,800. This trade represents a 41.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

OBDC has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a "buy" rating and a $16.00 price target on the stock. B. Riley initiated coverage on Blue Owl Capital in a research note on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods cut their target price on Blue Owl Capital from $15.10 to $14.50 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of Blue Owl Capital in a research note on Thursday, May 15th. Finally, JMP Securities reiterated an "outperform" rating on shares of Blue Owl Capital in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $15.64.

Blue Owl Capital Price Performance

NYSE OBDC opened at $14.72 on Tuesday. The business's fifty day moving average price is $14.17 and its 200-day moving average price is $14.76. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 9.62 and a beta of 0.71. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.19 and a quick ratio of 1.28. Blue Owl Capital Co. has a 1-year low of $12.11 and a 1-year high of $16.91.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. On average, equities analysts predict that Blue Owl Capital Co. will post 1.71 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 10.05%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.05. The ex-dividend date is Monday, June 30th. Blue Owl Capital's dividend payout ratio is presently 95.48%.

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.

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