Truist Financial Corp Makes New $901,000 Investment in Blue Owl Capital Co. (NYSE:OBDC)

Truist Financial Corp bought a new position in Blue Owl Capital Co. (NYSE:OBDC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 61,071 shares of the company's stock, valued at approximately $901,000.

A number of other hedge funds have also modified their holdings of the stock. Mackenzie Financial Corp acquired a new position in Blue Owl Capital during the fourth quarter valued at $795,000. abrdn plc acquired a new position in Blue Owl Capital during the fourth quarter valued at $1,965,000. Koshinski Asset Management Inc. acquired a new position in Blue Owl Capital during the fourth quarter valued at $1,170,000. Atria Wealth Solutions Inc. acquired a new position in Blue Owl Capital during the fourth quarter valued at $1,074,000. Finally, Tectonic Advisors LLC acquired a new position in Blue Owl Capital in the 4th quarter worth about $5,417,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Down 0.4 %

Shares of OBDC traded down $0.06 during trading hours on Wednesday, hitting $16.45. 2,572,097 shares of the company were exchanged, compared to its average volume of 2,023,527. The company has a market cap of $6.41 billion, a PE ratio of 8.31 and a beta of 0.88. The firm's 50 day moving average is $15.62 and its 200-day moving average is $15.07. Blue Owl Capital Co. has a 52 week low of $12.80 and a 52 week high of $16.60. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.67 and a current ratio of 1.67.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its earnings results on Wednesday, February 21st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Blue Owl Capital had a return on equity of 12.64% and a net margin of 48.25%. The firm had revenue of $411.23 million during the quarter, compared to the consensus estimate of $397.42 million. On average, equities research analysts forecast that Blue Owl Capital Co. will post 1.88 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.37 per share. This is an increase from Blue Owl Capital's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.48 annualized dividend and a yield of 9.00%. Blue Owl Capital's dividend payout ratio is presently 70.71%.

Insider Activity at Blue Owl Capital

In other Blue Owl Capital news, Director Edward H. Dalelio bought 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $15.07 per share, for a total transaction of $45,210.00. Following the purchase, the director now directly owns 6,217 shares in the company, valued at $93,690.19. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

OBDC has been the topic of several research reports. Wells Fargo & Company upped their target price on Blue Owl Capital from $13.00 to $14.50 and gave the stock an "underweight" rating in a research report on Monday, January 29th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 target price on shares of Blue Owl Capital in a research report on Tuesday, March 26th. Hovde Group upped their target price on Blue Owl Capital from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 10th. Finally, Truist Financial upped their target price on Blue Owl Capital from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $16.07.

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.