Elevation Point Wealth Partners LLC Acquires New Position in Blue Owl Capital Inc. $OWL

Elevation Point Wealth Partners LLC acquired a new stake in shares of Blue Owl Capital Inc. (NYSE:OWL) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 320,944 shares of the company’s stock, valued at approximately $3,587,000.

A number of other institutional investors and hedge funds have also bought and sold shares of OWL. Royal Bank of Canada grew its holdings in shares of Blue Owl Capital by 50.0% during the first quarter. Royal Bank of Canada now owns 397,990 shares of the company’s stock valued at $7,976,000 after buying an additional 132,637 shares during the last quarter. Russell Investments Group Ltd. increased its position 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 valued at $849,000 after acquiring an additional 1,703 shares in the last quarter. Jump Financial LLC purchased a new position in Blue Owl Capital in the 2nd quarter worth approximately $238,000. California Public Employees Retirement System raised its holdings in Blue Owl Capital by 28.2% in the 2nd quarter. California Public Employees Retirement System now owns 787,255 shares of the company’s stock worth $15,123,000 after acquiring an additional 172,982 shares during the last quarter. Finally, State Street Corp lifted its position in Blue Owl Capital by 10.6% in the 2nd quarter. State Street Corp now owns 9,880,565 shares of the company’s stock valued at $189,806,000 after acquiring an additional 950,700 shares in the last quarter. 35.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OWL has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on Blue Owl Capital from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Monday, August 3rd. UBS Group restated a “neutral” rating and issued a $9.50 price target on shares of Blue Owl Capital in a research note on Thursday, June 11th. JPMorgan Chase & Co. lowered their price target on Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Oppenheimer dropped their price objective on Blue Owl Capital from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Finally, BMO Capital Markets increased their price objective on Blue Owl Capital from $11.00 to $12.00 and gave the company an “outperform” rating in a research 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, Blue Owl Capital presently has an average rating of “Moderate Buy” and an average target price of $13.44.

Blue Owl Capital Stock Up 2.3%

Shares of Blue Owl Capital stock opened at $11.66 on Friday. Blue Owl Capital Inc. has a twelve month low of $7.95 and a twelve month high of $19.29. The company’s 50 day moving average is $10.07 and its 200 day moving average is $10.03. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 97.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, July 30th. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Blue Owl Capital had a net margin of 2.71% and a return on equity of 23.14%. The business had revenue of $693.56 million during the quarter, compared to the consensus estimate of $693.15 million. Sell-side analysts expect that Blue Owl Capital Inc. will post 0.88 EPS for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently declared 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Thursday, August 13th. Blue Owl Capital’s dividend payout ratio (DPR) 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.