Royal Bank of Canada Buys 620,521 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Royal Bank of Canada increased its stake in Blue Owl Capital Co. (NYSE:OBDC) by 9.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,387,300 shares of the company’s stock after purchasing an additional 620,521 shares during the quarter. Royal Bank of Canada’s holdings in Blue Owl Capital were worth $111,696,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Atria Wealth Solutions Inc. increased its stake in Blue Owl Capital by 1.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 65,873 shares of the company’s stock worth $1,014,000 after buying an additional 685 shares in the last quarter. Amplius Wealth Advisors LLC increased its stake in Blue Owl Capital by 1.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 40,687 shares of the company’s stock worth $615,000 after buying an additional 702 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Blue Owl Capital by 9.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,038 shares of the company’s stock worth $197,000 after buying an additional 1,083 shares in the last quarter. Blue Trust Inc. increased its stake in Blue Owl Capital by 9.5% in the 4th quarter. Blue Trust Inc. now owns 15,261 shares of the company’s stock worth $222,000 after buying an additional 1,321 shares in the last quarter. Finally, Csenge Advisory Group increased its stake in Blue Owl Capital by 2.6% in the 4th quarter. Csenge Advisory Group now owns 55,064 shares of the company’s stock worth $833,000 after buying an additional 1,373 shares in the last quarter. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Trading Up 0.1%

Shares of Blue Owl Capital stock opened at $14.72 on Tuesday. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 9.62 and a beta of 0.71. The business has a 50-day moving average price of $14.17 and a 200-day moving average price of $14.76. The company has a quick ratio of 1.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.25. Blue Owl Capital Co. has a twelve month low of $12.11 and a twelve month high of $16.91.

Blue Owl Capital (NYSE:OBDC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $464.65 million during the quarter, compared to analysts’ expectations of $457.88 million. Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. Equities research analysts anticipate that Blue Owl Capital Co. will post 1.71 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.37 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 10.05%. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s dividend payout ratio (DPR) is currently 95.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Blue Owl Capital in a research note on Friday, April 11th. They issued a “buy” rating and a $16.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $16.00 price target on shares of Blue Owl Capital in a research note on Thursday, May 15th. JMP Securities reiterated an “outperform” rating on shares of Blue Owl Capital in a research note on Tuesday, February 4th. Citizens Jmp upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company cut their price objective on Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $15.64.

Insider Buying and Selling

In other news, Director Chris Temple acquired 15,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $14.80 per share, with a total value of $222,000.00. Following the completion of the purchase, the director now directly owns 51,000 shares in the company, valued at approximately $754,800. This trade represents a 41.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

Blue Owl Capital Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.