Geode Capital Management LLC Acquires 555,371 Shares of Blue Owl Capital Inc. $OWL

Geode Capital Management LLC boosted its holdings in Blue Owl Capital Inc. (NYSE:OWL) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,709,690 shares of the company’s stock after acquiring an additional 555,371 shares during the period. Geode Capital Management LLC owned 0.75% of Blue Owl Capital worth $174,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC grew its holdings in Blue Owl Capital by 12.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 28,279 shares of the company’s stock valued at $422,000 after buying an additional 3,193 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Blue Owl Capital in the 4th quarter valued at $215,000. Cary Street Partners Financial LLC grew its holdings in Blue Owl Capital by 23.0% in the 4th quarter. Cary Street Partners Financial LLC now owns 190,675 shares of the company’s stock valued at $2,849,000 after buying an additional 35,609 shares in the last quarter. FFT Wealth Management LLC grew its holdings in Blue Owl Capital by 6.5% in the 4th quarter. FFT Wealth Management LLC now owns 29,641 shares of the company’s stock valued at $443,000 after buying an additional 1,807 shares in the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Blue Owl Capital by 360.2% in the 4th quarter. Clearstead Advisors LLC now owns 4,602 shares of the company’s stock valued at $69,000 after buying an additional 3,602 shares in the last quarter. 35.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OWL has been the topic of a number of research reports. Piper Sandler decreased their price objective on Blue Owl Capital from $15.00 to $12.50 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. TD Cowen reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Blue Owl Capital in a report on Monday, May 18th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Blue Owl Capital in a report on Thursday, February 19th. BMO Capital Markets decreased their price objective on Blue Owl Capital from $15.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft lowered Blue Owl Capital from a “buy” rating to a “hold” rating and decreased their price objective for the company from $15.00 to $10.00 in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Blue Owl Capital has an average rating of “Moderate Buy” and an average price target of $14.04.

Blue Owl Capital Stock Performance

OWL opened at $9.72 on Thursday. The firm has a market cap of $15.10 billion, a P/E ratio of 80.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.20. Blue Owl Capital Inc. has a 52-week low of $7.95 and a 52-week high of $21.08. The business’s fifty day moving average is $9.48 and its 200-day moving average is $12.09.

Blue Owl Capital (NYSE:OWL) last released its earnings results on Thursday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The company had revenue of $699.88 million for the quarter, compared to analyst estimates of $687.23 million. Blue Owl Capital had a return on equity of 21.97% and a net margin of 2.96%. On average, research analysts predict that Blue Owl Capital Inc. will post 0.88 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.23 per share. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.92 annualized dividend and a dividend yield of 9.5%. Blue Owl Capital’s payout ratio is currently 766.67%.

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.