Royal Bank of Canada Has $111.55 Million Holdings in Blue Owl Capital Corporation $OBDC

Key Points

• The Royal Bank of Canada has increased its stake in Blue Owl Capital Corporation by 3.0%, now owning 7,608,871 shares valued at approximately $111.5 million.
• Analysts have given Blue Owl Capital a consensus rating of "Buy", with a majority of three analysts recommending a "Strong Buy" rating and a price target averaging $15.42.
• Blue Owl Capital will increase its quarterly dividend to $0.02, reflecting a significant rise from the previous $0.01 quarterly dividend.

Royal Bank of Canada grew its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,608,871 shares of the company's stock after acquiring an additional 221,571 shares during the period. Royal Bank of Canada owned about 1.49% of Blue Owl Capital worth $111,546,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Jane Street Group LLC grew its holdings in shares of Blue Owl Capital by 349.3% in the fourth quarter. Jane Street Group LLC now owns 573,375 shares of the company's stock valued at $8,669,000 after purchasing an additional 445,761 shares in the last quarter. AXA S.A. acquired a new position in Blue Owl Capital during the 4th quarter worth approximately $617,000. Ameriprise Financial Inc. lifted its position in shares of Blue Owl Capital by 5.2% during the 4th quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company's stock worth $72,361,000 after buying an additional 236,467 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Blue Owl Capital during the 4th quarter worth approximately $673,000. Finally, Baird Financial Group Inc. lifted its position in shares of Blue Owl Capital by 10.8% during the 4th quarter. Baird Financial Group Inc. now owns 14,555 shares of the company's stock worth $220,000 after buying an additional 1,422 shares during the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Blue Owl Capital Trading Down 0.5%

Shares of OBDC traded down $0.08 on Tuesday, hitting $14.24. 741,899 shares of the stock traded hands, compared to its average volume of 3,143,755. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $7.27 billion, a P/E ratio of 9.41 and a beta of 0.76. The stock's 50 day moving average is $14.42 and its two-hundred day moving average is $14.41. Blue Owl Capital Corporation has a 1 year low of $12.11 and a 1 year high of $15.73.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.01. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. The company had revenue of $485.84 million for the quarter, compared to the consensus estimate of $480.42 million. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Blue Owl Capital's previous quarterly dividend of $0.01. Blue Owl Capital's payout ratio is currently 98.01%.

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.