NewEdge Wealth LLC Takes Position in Blue Owl Capital Inc. $OWL

NewEdge Wealth LLC purchased a new position in shares of Blue Owl Capital Inc. (NYSE:OWL) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 614,082 shares of the company’s stock, valued at approximately $6,675,000.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new position in Blue Owl Capital in the 4th quarter valued at $140,643,000. William Blair Investment Management LLC acquired a new stake in shares of Blue Owl Capital in the 4th quarter worth $113,782,000. Boston Partners lifted its stake in shares of Blue Owl Capital by 121.9% in the 3rd quarter. Boston Partners now owns 12,153,776 shares of the company’s stock worth $205,493,000 after acquiring an additional 6,677,610 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Blue Owl Capital in the 2nd quarter worth $54,883,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Blue Owl Capital by 2,107.1% in the first quarter. Renaissance Technologies LLC now owns 6,065,200 shares of the company’s stock valued at $55,375,000 after acquiring an additional 5,790,400 shares in the last quarter. 35.85% of the stock is owned by institutional investors and hedge funds.

Blue Owl Capital Trading Up 1.7%

OWL stock opened at $11.78 on Thursday. The company has a market cap of $18.37 billion, a P/E ratio of 98.20, a P/E/G ratio of 1.29 and a beta of 1.19. Blue Owl Capital Inc. has a 52 week low of $7.95 and a 52 week high of $19.29. The company’s 50-day moving average price is $9.99 and its 200 day moving average price is $10.04.

Blue Owl Capital (NYSE:OWL) last issued its earnings results on Thursday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $693.56 million during the quarter, compared to analysts’ expectations of $693.15 million. On average, equities research analysts expect that Blue Owl Capital Inc. will post 0.88 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, August 13th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 766.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OWL shares. Citizens Jmp dropped their price target on shares of Blue Owl Capital from $21.00 to $17.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. TD Cowen restated a “buy” rating on shares of Blue Owl Capital in a research report on Thursday, August 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Blue Owl Capital in a report on Thursday, June 18th. The Goldman Sachs Group boosted their target price on Blue Owl Capital from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, UBS Group reissued a “neutral” rating and set a $9.50 target price on shares of Blue Owl Capital in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Blue Owl Capital currently has an average rating of “Moderate Buy” and a consensus target price of $13.44.

About Blue Owl Capital

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.