KLP Kapitalforvaltning AS Makes New Investment in Blue Owl Capital Inc. (NYSE:OWL)

KLP Kapitalforvaltning AS purchased a new position in shares of Blue Owl Capital Inc. (NYSE:OWL) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 107,900 shares of the company’s stock, valued at approximately $2,510,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OWL. PNC Financial Services Group Inc. raised its stake in Blue Owl Capital by 0.6% during the third quarter. PNC Financial Services Group Inc. now owns 95,623 shares of the company’s stock worth $1,851,000 after purchasing an additional 575 shares during the period. Raymond James Trust N.A. increased its holdings in shares of Blue Owl Capital by 9.9% during the 3rd quarter. Raymond James Trust N.A. now owns 12,332 shares of the company’s stock worth $239,000 after buying an additional 1,115 shares during the last quarter. Cerity Partners LLC raised its position in shares of Blue Owl Capital by 3.2% during the 3rd quarter. Cerity Partners LLC now owns 190,455 shares of the company’s stock valued at $3,687,000 after buying an additional 5,874 shares during the period. Algert Global LLC lifted its holdings in Blue Owl Capital by 95.6% in the third quarter. Algert Global LLC now owns 82,539 shares of the company’s stock valued at $1,598,000 after acquiring an additional 40,340 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Blue Owl Capital by 14.4% in the third quarter. The Manufacturers Life Insurance Company now owns 114,277 shares of the company’s stock worth $2,212,000 after acquiring an additional 14,411 shares during the period. Institutional investors and hedge funds own 35.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on OWL. JMP Securities restated a “market outperform” rating and issued a $32.00 target price (up previously from $30.00) on shares of Blue Owl Capital in a research report on Friday, February 7th. Piper Sandler boosted their price objective on shares of Blue Owl Capital from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Wells Fargo & Company lowered their target price on shares of Blue Owl Capital from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. Oppenheimer boosted their price target on shares of Blue Owl Capital from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group cut shares of Blue Owl Capital from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $24.75 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Blue Owl Capital has an average rating of “Moderate Buy” and a consensus target price of $26.33.

Blue Owl Capital Price Performance

OWL opened at $21.05 on Thursday. The business has a fifty day moving average price of $22.60 and a 200 day moving average price of $22.30. Blue Owl Capital Inc. has a 12 month low of $15.18 and a 12 month high of $26.73. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of 123.83, a PEG ratio of 1.23 and a beta of 1.19.

Blue Owl Capital (NYSE:OWL) last released its earnings results on Thursday, February 6th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Blue Owl Capital had a net margin of 4.77% and a return on equity of 20.82%. On average, research analysts anticipate that Blue Owl Capital Inc. will post 0.92 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, February 19th. This represents a $0.72 annualized dividend and a dividend yield of 3.42%. Blue Owl Capital’s dividend payout ratio (DPR) is currently 423.53%.

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.