Fred Alger Management LLC Boosts Holdings in Blue Owl Capital Inc. (NYSE:OWL)

Fred Alger Management LLC lifted its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 39.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,091,101 shares of the company's stock after buying an additional 309,693 shares during the period. Fred Alger Management LLC owned about 0.07% of Blue Owl Capital worth $25,379,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital World Investors raised its holdings in Blue Owl Capital by 14.5% in the 4th quarter. Capital World Investors now owns 77,168,640 shares of the company's stock valued at $1,794,943,000 after acquiring an additional 9,794,102 shares during the period. Vanguard Group Inc. raised its holdings in Blue Owl Capital by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 53,206,392 shares of the company's stock valued at $1,237,581,000 after acquiring an additional 5,558,868 shares during the period. FMR LLC raised its holdings in Blue Owl Capital by 28.1% in the 4th quarter. FMR LLC now owns 45,241,160 shares of the company's stock valued at $1,052,309,000 after acquiring an additional 9,917,071 shares during the period. JPMorgan Chase & Co. raised its holdings in Blue Owl Capital by 2.4% in the 4th quarter. JPMorgan Chase & Co. now owns 9,248,983 shares of the company's stock valued at $215,131,000 after acquiring an additional 218,586 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Blue Owl Capital by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 8,426,251 shares of the company's stock valued at $196,060,000 after acquiring an additional 274,094 shares during the period. 35.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup lowered their price target on shares of Blue Owl Capital from $30.00 to $23.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company raised their target price on shares of Blue Owl Capital from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. TD Cowen raised shares of Blue Owl Capital from a "hold" rating to a "buy" rating and raised their target price for the stock from $26.00 to $28.00 in a report on Thursday, January 16th. Cfra Research raised shares of Blue Owl Capital to a "moderate buy" rating in a report on Thursday, March 27th. Finally, Piper Sandler lowered their target price on shares of Blue Owl Capital from $27.00 to $21.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Blue Owl Capital presently has an average rating of "Moderate Buy" and a consensus target price of $23.56.

Blue Owl Capital Price Performance

OWL stock traded down $0.01 during midday trading on Friday, reaching $18.53. The company had a trading volume of 4,055,952 shares, compared to its average volume of 6,761,540. Blue Owl Capital Inc. has a 1 year low of $14.55 and a 1 year high of $26.73. The company has a market capitalization of $28.50 billion, a P/E ratio of 109.01, a P/E/G ratio of 1.23 and a beta of 1.21. The firm has a 50-day moving average price of $18.66 and a 200-day moving average price of $21.81.

Blue Owl Capital (NYSE:OWL - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $620.19 million for the quarter, compared to analysts' expectations of $636.44 million. Blue Owl Capital had a net margin of 4.77% and a return on equity of 20.82%. On average, equities analysts predict that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.86%. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Wednesday, May 14th. Blue Owl Capital's dividend payout ratio (DPR) is presently 692.31%.

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.