Texas Capital Bank Wealth Management Services Inc Invests $4.06 Million in Blue Owl Capital Inc. $OWL

Key Points

• Texas Capital Bank Wealth Management Services acquired 373,316 shares of Blue Owl Capital, valued at approximately $4.06 million. Several other institutional investors also increased their positions, with institutions collectively owning 35.85% of the company.
• Analysts maintain a generally positive outlook, with Blue Owl receiving a consensus “Moderate Buy” rating and an average price target of $13.44. The stock recently traded at $11.67, while the company’s latest quarterly results met earnings expectations at $0.22 per share.
• Blue Owl declared a quarterly dividend of $0.23 per share, equivalent to $0.92 annually and a reported 7.9% yield. However, its dividend payout ratio is exceptionally high at 766.67%.

Texas Capital Bank Wealth Management Services Inc acquired a new position in Blue Owl Capital Inc. (NYSE:OWL - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 373,316 shares of the company's stock, valued at approximately $4,058,000.

Other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Blue Owl Capital by 50.0% in the 1st quarter. Royal Bank of Canada now owns 397,990 shares of the company's stock valued at $7,976,000 after acquiring an additional 132,637 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Blue Owl Capital by 4.0% during the second quarter. Russell Investments Group Ltd. now owns 44,215 shares of the company's stock worth $849,000 after purchasing an additional 1,703 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Blue Owl Capital during the second quarter worth about $238,000. California Public Employees Retirement System increased its position in shares of Blue Owl Capital by 28.2% in the second quarter. California Public Employees Retirement System now owns 787,255 shares of the company's stock worth $15,123,000 after purchasing an additional 172,982 shares during the last quarter. Finally, State Street Corp increased its position in shares of Blue Owl Capital by 10.6% in the second quarter. State Street Corp now owns 9,880,565 shares of the company's stock worth $189,806,000 after purchasing an additional 950,700 shares during the last quarter. Institutional investors own 35.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OWL. Weiss Ratings reiterated a "hold (c-)" rating on shares of Blue Owl Capital in a research report on Thursday, June 18th. Citigroup reissued a "market outperform" rating on shares of Blue Owl Capital in a report on Thursday, July 9th. Keefe, Bruyette & Woods upgraded shares of Blue Owl Capital to a "hold" rating in a research report on Monday, July 20th. Credit Suisse Group set a $9.10 price objective on shares of Blue Owl Capital in a research report on Thursday, July 2nd. Finally, BMO Capital Markets lifted their price objective on shares of Blue Owl Capital from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.44.

Blue Owl Capital Price Performance

NYSE:OWL opened at $11.67 on Tuesday. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 97.26, a PEG ratio of 1.36 and a beta of 1.19. The business has a 50 day moving average of $9.91 and a 200 day moving average of $10.07. Blue Owl Capital Inc. has a 1-year low of $7.95 and a 1-year high of $19.35.

Blue Owl Capital (NYSE:OWL - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.22 EPS for the quarter, meeting analysts' consensus estimates of $0.22. The business had revenue of $693.56 million for the quarter, compared to analysts' expectations of $693.15 million. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. As a group, sell-side analysts anticipate that Blue Owl Capital Inc. will post 0.88 EPS for the current year.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.9%. Blue Owl Capital's dividend payout ratio is 766.67%.

Blue Owl Capital Company Profile

Blue Owl Capital is a global alternative asset manager that focuses on private credit, direct lending and equity-related strategies for institutional investors. Headquartered in New York, the firm develops and manages a range of private markets products designed to provide capital solutions to middle-market and larger corporate borrowers, as well as liquidity and partnership arrangements with private equity firms and other alternative managers.

Its core activities include direct lending and credit strategies that provide senior, unitranche and other structured loan products to companies across industries.

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