Sumitomo Mitsui Trust Group Inc. Purchases 482,642 Shares of Blue Owl Capital Corporation $OBDC

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 37.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,765,974 shares of the company’s stock after buying an additional 482,642 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.35% of Blue Owl Capital worth $22,551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OBDC. First Horizon Advisors Inc. acquired a new position in Blue Owl Capital during the 2nd quarter worth $40,000. Private Trust Co. NA grew its position in shares of Blue Owl Capital by 86.6% in the second quarter. Private Trust Co. NA now owns 3,123 shares of the company’s stock valued at $45,000 after purchasing an additional 1,449 shares during the last quarter. Allworth Financial LP increased its stake in shares of Blue Owl Capital by 24,533.3% in the second quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock worth $53,000 after purchasing an additional 3,680 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Blue Owl Capital by 106.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,728 shares of the company’s stock worth $125,000 after purchasing an additional 4,494 shares during the last quarter. Finally, BBR Partners LLC acquired a new position in shares of Blue Owl Capital during the 2nd quarter worth about $148,000. 42.83% of the stock is currently owned by institutional investors and hedge funds.

Blue Owl Capital Stock Performance

Shares of NYSE OBDC opened at $12.62 on Friday. The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 8.95 and a beta of 0.67. Blue Owl Capital Corporation has a one year low of $11.65 and a one year high of $15.73. The business has a fifty day simple moving average of $12.68 and a 200 day simple moving average of $13.40. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.25.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Blue Owl Capital had a net margin of 36.89% and a return on equity of 10.58%. The business had revenue of $453.07 million during the quarter, compared to the consensus estimate of $466.81 million. Sell-side analysts expect that Blue Owl Capital Corporation will post 1.71 EPS for the current year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 11.7%. Blue Owl Capital’s payout ratio is presently 104.96%.

Insider Activity

In other Blue Owl Capital news, CEO Craig Packer purchased 83,200 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average price of $11.75 per share, for a total transaction of $977,600.00. Following the completion of the purchase, the chief executive officer directly owned 41,600 shares in the company, valued at approximately $488,800. This trade represents a -200.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Neena Reddy acquired 7,890 shares of the stock in a transaction dated Wednesday, November 26th. The stock was bought at an average price of $13.06 per share, for a total transaction of $103,043.40. Following the completion of the purchase, the vice president owned 7,890 shares in the company, valued at approximately $103,043.40. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research lowered Blue Owl Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Citizens Jmp lowered their price objective on shares of Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Royal Bank Of Canada dropped their target price on shares of Blue Owl Capital from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. Keefe, Bruyette & Woods cut their target price on shares of Blue Owl Capital from $14.50 to $13.50 and set a “market perform” rating for the company in a research note on Monday, November 10th. Finally, Wells Fargo & Company decreased their price target on shares of Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average target price of $14.56.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.