MJP Associates Inc. ADV Sells 12,080 Shares of Blue Owl Capital Inc. (NYSE:OWL)

MJP Associates Inc. ADV cut its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 32.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,205 shares of the company’s stock after selling 12,080 shares during the quarter. MJP Associates Inc. ADV’s holdings in Blue Owl Capital were worth $475,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Blue Owl Capital by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,480,663 shares of the company’s stock valued at $603,162,000 after purchasing an additional 281,324 shares during the last quarter. Capital International Investors boosted its position in Blue Owl Capital by 12.0% during the fourth quarter. Capital International Investors now owns 33,177,641 shares of the company’s stock valued at $494,347,000 after purchasing an additional 3,565,657 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Blue Owl Capital during the third quarter valued at approximately $59,997,000. Charles Schwab Investment Management Inc. boosted its position in Blue Owl Capital by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,620,694 shares of the company’s stock valued at $53,948,000 after purchasing an additional 100,188 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Blue Owl Capital during the fourth quarter valued at approximately $46,030,000. 35.85% of the stock is currently owned by institutional investors.

Blue Owl Capital Stock Performance

NYSE:OWL traded down $0.25 during mid-day trading on Friday, hitting $17.51. 10,791,010 shares of the stock were exchanged, compared to its average volume of 6,742,407. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 145.92, a price-to-earnings-growth ratio of 1.08 and a beta of 1.20. The firm’s 50-day simple moving average is $18.28 and its 200 day simple moving average is $17.10. Blue Owl Capital Inc. has a fifty-two week low of $10.64 and a fifty-two week high of $19.87.

Blue Owl Capital (NYSE:OWL) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Blue Owl Capital had a return on equity of 18.15% and a net margin of 3.84%. The business had revenue of $486.55 million during the quarter, compared to analysts’ expectations of $478.47 million. On average, analysts predict that Blue Owl Capital Inc. will post 0.82 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Monday, May 20th. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.14. Blue Owl Capital’s dividend payout ratio (DPR) is 600.00%.

Wall Street Analyst Weigh In

OWL has been the subject of several recent research reports. Citigroup reissued a “buy” rating and set a $21.00 price target on shares of Blue Owl Capital in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Blue Owl Capital in a research report on Monday, June 10th. TD Cowen cut their price objective on Blue Owl Capital from $23.00 to $21.50 and set a “buy” rating for the company in a research report on Friday, May 3rd. Piper Sandler raised their price objective on Blue Owl Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI raised their price objective on Blue Owl Capital from $18.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.27.

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.