Parsons Capital Management Inc. RI Cuts Stock Holdings in Blue Owl Capital Inc. (NYSE:OWL)

Parsons Capital Management Inc. RI lowered its holdings in Blue Owl Capital Inc. (NYSE:OWL) by 6.3% in the 1st quarter, HoldingsChannel reports. The firm owned 14,932 shares of the company’s stock after selling 1,000 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Blue Owl Capital were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Kestra Private Wealth Services LLC bought a new position in shares of Blue Owl Capital in the 4th quarter worth $509,000. Asset Management One Co. Ltd. bought a new position in Blue Owl Capital in the fourth quarter worth about $352,000. Blue Trust Inc. raised its holdings in Blue Owl Capital by 182.2% in the fourth quarter. Blue Trust Inc. now owns 2,029 shares of the company’s stock worth $47,000 after purchasing an additional 1,310 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Blue Owl Capital by 4.2% during the fourth quarter. Rhumbline Advisers now owns 599,337 shares of the company’s stock valued at $13,941,000 after buying an additional 23,952 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV boosted its holdings in shares of Blue Owl Capital by 3.4% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,685 shares of the company’s stock valued at $458,000 after buying an additional 642 shares in the last quarter. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Cfra Research upgraded shares of Blue Owl Capital to a “moderate buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price target on shares of Blue Owl Capital from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods upgraded Blue Owl Capital from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $20.00 to $23.00 in a report on Tuesday, May 20th. Oppenheimer set a $24.00 target price on Blue Owl Capital and gave the stock an “outperform” rating in a research note on Wednesday, April 16th. Finally, UBS Group reduced their target price on Blue Owl Capital from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Blue Owl Capital Stock Performance

Shares of OWL opened at $19.16 on Thursday. The stock has a 50-day moving average of $18.27 and a two-hundred day moving average of $21.21. The stock has a market cap of $29.46 billion, a P/E ratio of 112.71, a P/E/G ratio of 1.23 and a beta of 1.18. Blue Owl Capital Inc. has a one year low of $14.55 and a one year high of $26.73.

Blue Owl Capital (NYSE:OWL) last released its earnings results on Thursday, May 1st. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). Blue Owl Capital had a return on equity of 20.82% and a net margin of 4.77%. The firm had revenue of $620.19 million for the quarter, compared to analyst estimates of $636.44 million. Analysts predict that Blue Owl Capital Inc. will post 0.92 EPS for the current fiscal year.

Blue Owl Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $0.225 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.18. This represents a $0.90 annualized dividend and a dividend yield of 4.70%. The ex-dividend date was Wednesday, May 14th. Blue Owl Capital’s dividend payout ratio is 692.31%.

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.