Bank of New York Mellon Corp Cuts Stock Holdings in Blue Owl Capital Inc. $OWL

Bank of New York Mellon Corp lowered its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,440,058 shares of the company’s stock after selling 215,776 shares during the quarter. Bank of New York Mellon Corp’s holdings in Blue Owl Capital were worth $46,874,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OWL. Banque Transatlantique SA bought a new position in Blue Owl Capital in the 1st quarter valued at approximately $31,000. SVB Wealth LLC purchased a new position in shares of Blue Owl Capital in the first quarter worth $38,000. Cullen Frost Bankers Inc. lifted its holdings in shares of Blue Owl Capital by 39.1% during the first quarter. Cullen Frost Bankers Inc. now owns 2,075 shares of the company’s stock valued at $42,000 after purchasing an additional 583 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Blue Owl Capital by 70.5% during the first quarter. Allworth Financial LP now owns 2,414 shares of the company’s stock valued at $45,000 after purchasing an additional 998 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Blue Owl Capital by 58.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,478 shares of the company’s stock valued at $50,000 after buying an additional 916 shares during the last quarter. 35.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup reissued a “market outperform” rating on shares of Blue Owl Capital in a research report on Tuesday, October 21st. Barclays decreased their price objective on shares of Blue Owl Capital from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, October 31st. The Goldman Sachs Group lowered their price objective on shares of Blue Owl Capital from $21.50 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Evercore ISI cut their target price on shares of Blue Owl Capital from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Blue Owl Capital in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $15.05 on Wednesday. The company’s fifty day simple moving average is $16.97 and its 200-day simple moving average is $18.35. The stock has a market capitalization of $23.32 billion, a PE ratio of 250.88, a P/E/G ratio of 1.11 and a beta of 1.12. Blue Owl Capital Inc. has a 1-year low of $14.52 and a 1-year high of $26.73.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Blue Owl Capital had a return on equity of 20.05% and a net margin of 1.89%.The firm had revenue of $727.99 million during the quarter, compared to analyst estimates of $685.95 million. As a group, research analysts anticipate that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 24th. Stockholders of record on Monday, November 10th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.90 annualized dividend and a dividend yield of 6.0%. Blue Owl Capital’s dividend payout ratio (DPR) is 1,500.00%.

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.