Huntington National Bank Buys 163,049 Shares of Blue Owl Capital Inc. $OWL

Huntington National Bank boosted its stake in shares of Blue Owl Capital Inc. (NYSE:OWL) by 33.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 650,605 shares of the company’s stock after purchasing an additional 163,049 shares during the quarter. Huntington National Bank’s holdings in Blue Owl Capital were worth $9,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Blue Owl Capital by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 11,709,690 shares of the company’s stock valued at $174,980,000 after purchasing an additional 555,371 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in Blue Owl Capital by 12.7% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 28,279 shares of the company’s stock valued at $422,000 after purchasing an additional 3,193 shares during the last quarter. Bleakley Financial Group LLC acquired a new position in Blue Owl Capital during the fourth quarter valued at approximately $215,000. Cary Street Partners Financial LLC grew its holdings in Blue Owl Capital by 23.0% during the fourth quarter. Cary Street Partners Financial LLC now owns 190,675 shares of the company’s stock valued at $2,849,000 after purchasing an additional 35,609 shares during the last quarter. Finally, FFT Wealth Management LLC grew its holdings in Blue Owl Capital by 6.5% during the fourth quarter. FFT Wealth Management LLC now owns 29,641 shares of the company’s stock valued at $443,000 after purchasing an additional 1,807 shares during the last quarter. Institutional investors and hedge funds own 35.85% of the company’s stock.

Blue Owl Capital Stock Performance

Blue Owl Capital stock opened at $9.90 on Friday. The business’s 50-day simple moving average is $9.40 and its 200-day simple moving average is $12.23. The firm has a market capitalization of $15.39 billion, a PE ratio of 82.53, a PEG ratio of 1.07 and a beta of 1.19. Blue Owl Capital Inc. has a 52 week low of $7.95 and a 52 week high of $21.08.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Blue Owl Capital had a return on equity of 21.97% and a net margin of 2.96%.The business had revenue of $699.88 million for the quarter, compared to analyst estimates of $687.23 million. Research analysts forecast that Blue Owl Capital Inc. will post 0.88 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a dividend of $0.23 per share. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.23. This represents a $0.92 annualized dividend and a yield of 9.3%. The ex-dividend date was Wednesday, May 13th. Blue Owl Capital’s dividend payout ratio is presently 766.67%.

Analyst Ratings Changes

Several equities analysts have commented on the company. TD Cowen reiterated a “buy” rating and set a $14.00 price target on shares of Blue Owl Capital in a report on Monday, May 18th. UBS Group lifted their price objective on Blue Owl Capital from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft lowered Blue Owl Capital from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $15.00 to $10.00 in a research note on Tuesday, February 24th. Raymond James Financial reiterated a “strong-buy” rating on shares of Blue Owl Capital in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.04.

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.