Verity & Verity LLC Trims Stock Holdings in Blue Owl Capital Inc. $OWL

Verity & Verity LLC lessened its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL) by 25.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 714,064 shares of the company’s stock after selling 244,590 shares during the quarter. Verity & Verity LLC’s holdings in Blue Owl Capital were worth $12,089,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fulton Bank N.A. acquired a new stake in shares of Blue Owl Capital during the third quarter worth approximately $234,000. Hedeker Wealth LLC bought a new position in Blue Owl Capital during the 3rd quarter valued at $525,000. Barton Investment Management grew its holdings in Blue Owl Capital by 0.7% during the 3rd quarter. Barton Investment Management now owns 1,920,184 shares of the company’s stock worth $32,509,000 after acquiring an additional 13,440 shares in the last quarter. Miracle Mile Advisors LLC grew its holdings in Blue Owl Capital by 35.6% during the 3rd quarter. Miracle Mile Advisors LLC now owns 19,091 shares of the company’s stock worth $323,000 after acquiring an additional 5,007 shares in the last quarter. Finally, Segment Wealth Management LLC bought a new stake in shares of Blue Owl Capital in the 3rd quarter worth about $1,022,000. 35.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OWL shares. Citigroup reiterated a “market outperform” rating on shares of Blue Owl Capital in a research note on Tuesday, October 21st. JPMorgan Chase & Co. lifted their target price on Blue Owl Capital from $21.50 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group lowered their price target on Blue Owl Capital from $21.50 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Piper Sandler dropped their price target on Blue Owl Capital from $23.50 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Finally, Evercore ISI reduced their price objective on Blue Owl Capital from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.50.

Blue Owl Capital Price Performance

NYSE:OWL opened at $15.28 on Friday. The firm has a market capitalization of $23.82 billion, a P/E ratio of 254.63, a P/E/G ratio of 1.17 and a beta of 1.13. The business has a 50 day simple moving average of $15.33 and a 200 day simple moving average of $17.40. Blue Owl Capital Inc. has a 12-month low of $13.25 and a 12-month high of $26.73.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, October 30th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $687.00 million for the quarter, compared to analysts’ expectations of $685.95 million. Blue Owl Capital had a return on equity of 20.05% and a net margin of 1.89%. Research analysts anticipate that Blue Owl Capital Inc. will post 0.92 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Stockholders of record on Monday, November 10th were given a dividend of $0.225 per share. The ex-dividend date was Monday, November 10th. This represents a $0.90 annualized dividend and a dividend yield of 5.9%. Blue Owl Capital’s payout ratio is currently 1,500.00%.

Insiders Place Their Bets

In other Blue Owl Capital news, CFO Alan Kirshenbaum purchased 33,670 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was bought at an average price of $14.87 per share, with a total value of $500,672.90. Following the completion of the purchase, the chief financial officer owned 33,670 shares in the company, valued at $500,672.90. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas I. Ostrover purchased 139,327 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were acquired at an average cost of $15.06 per share, for a total transaction of $2,098,264.62. Following the completion of the acquisition, the chief executive officer directly owned 158,000 shares of the company’s stock, valued at approximately $2,379,480. This trade represents a 746.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 395,670 shares of company stock valued at $5,952,393. 27.20% of the stock is owned by corporate insiders.

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.