Clearbridge Investments LLC Sells 334,560 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Clearbridge Investments LLC cut its stake in shares of Blue Owl Capital Inc. (NYSE:OWL) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,184,953 shares of the company’s stock after selling 334,560 shares during the quarter. Clearbridge Investments LLC’s holdings in Blue Owl Capital were worth $74,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital World Investors increased its stake in shares of Blue Owl Capital by 0.3% in the first quarter. Capital World Investors now owns 63,339,128 shares of the company’s stock worth $1,194,576,000 after buying an additional 163,377 shares during the period. Vanguard Group Inc. increased its position in shares of Blue Owl Capital by 0.6% in the first quarter. Vanguard Group Inc. now owns 40,731,640 shares of the company’s stock valued at $768,199,000 after acquiring an additional 250,977 shares during the period. Capital International Investors raised its stake in shares of Blue Owl Capital by 0.3% during the first quarter. Capital International Investors now owns 33,284,962 shares of the company’s stock valued at $627,754,000 after acquiring an additional 107,321 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Blue Owl Capital by 11.9% during the first quarter. Capital Research Global Investors now owns 10,512,628 shares of the company’s stock worth $198,268,000 after purchasing an additional 1,121,064 shares during the period. Finally, Stone Point Capital LLC bought a new stake in shares of Blue Owl Capital in the second quarter worth about $112,749,000. Institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Trading Up 1.0 %

Shares of NYSE:OWL opened at $19.70 on Thursday. The stock has a fifty day simple moving average of $17.81 and a two-hundred day simple moving average of $18.14. Blue Owl Capital Inc. has a 12-month low of $12.11 and a 12-month high of $20.13. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of 164.17, a PEG ratio of 1.19 and a beta of 1.17.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $549.85 million for the quarter, compared to analysts’ expectations of $507.22 million. Blue Owl Capital had a net margin of 4.64% and a return on equity of 19.15%. During the same quarter in the previous year, the business posted $0.16 EPS. As a group, equities research analysts predict that Blue Owl Capital Inc. will post 0.79 EPS for the current year.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Wednesday, August 21st. Blue Owl Capital’s dividend payout ratio (DPR) is currently 600.00%.

Wall Street Analysts Forecast Growth

OWL has been the subject of several research analyst reports. Oppenheimer upgraded Blue Owl Capital from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $18.50 price objective on shares of Blue Owl Capital in a research report on Thursday, June 13th. Piper Sandler decreased their price objective on shares of Blue Owl Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. TD Cowen reaffirmed a “hold” rating and set a $19.00 target price (down previously from $21.50) on shares of Blue Owl Capital in a research note on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Blue Owl Capital from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Blue Owl Capital currently has an average rating of “Moderate Buy” and an average price target of $20.10.

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.