Sumitomo Mitsui Trust Group Inc. Purchases 474,100 Shares of Blue Owl Capital Corporation (NYSE:OBDC)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Blue Owl Capital Corporation (NYSE:OBDC - Free Report) by 85.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,026,055 shares of the company's stock after buying an additional 474,100 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Blue Owl Capital worth $15,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OBDC. Cresset Asset Management LLC raised its stake in shares of Blue Owl Capital by 8,188.9% in the fourth quarter. Cresset Asset Management LLC now owns 4,439,547 shares of the company's stock worth $68,762,000 after buying an additional 4,385,987 shares during the period. Generali Asset Management SPA SGR bought a new position in shares of Blue Owl Capital in the fourth quarter worth about $34,103,000. Raymond James Financial Inc. bought a new position in shares of Blue Owl Capital in the fourth quarter worth about $28,434,000. Boston Partners raised its stake in shares of Blue Owl Capital by 76.6% in the fourth quarter. Boston Partners now owns 1,648,101 shares of the company's stock worth $24,823,000 after buying an additional 714,940 shares during the period. Finally, Enstar Group LTD bought a new position in shares of Blue Owl Capital in the fourth quarter worth about $10,139,000. Institutional investors own 42.83% of the company's stock.

Insider Activity

In other Blue Owl Capital news, Director Victor Woolridge purchased 6,915 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was purchased at an average cost of $14.45 per share, with a total value of $99,921.75. Following the purchase, the director owned 28,191 shares of the company's stock, valued at approximately $407,359.95. The trade was a 32.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company's stock.

Blue Owl Capital Stock Performance

NYSE:OBDC opened at $14.54 on Friday. The stock has a market capitalization of $7.43 billion, a P/E ratio of 9.38 and a beta of 0.72. The stock has a 50-day moving average price of $14.41 and a 200 day moving average price of $14.64. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31. Blue Owl Capital Corporation has a 12-month low of $12.11 and a 12-month high of $15.87.

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 analysts' expectations of $457.88 million. Blue Owl Capital had a net margin of 39.42% and a return on equity of 11.72%. Equities research analysts forecast that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, June 13th. Investors of record on Monday, June 2nd were paid a dividend of $0.01 per share. This represents a dividend yield of 11.51%. The ex-dividend date of this dividend was Friday, May 30th. Blue Owl Capital's dividend payout ratio is currently 95.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a "buy" rating and a $16.00 price objective 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 for the company in a research report on Tuesday, April 8th. B. Riley initiated coverage on Blue Owl Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 target price for the company. Wells Fargo & Company cut their target price on Blue Owl Capital from $15.00 to $14.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $16.00 target price on shares of Blue Owl Capital in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $15.64.

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.

Want to see what other hedge funds are holding OBDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blue Owl Capital Corporation (NYSE:OBDC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.