The Manufacturers Life Insurance Company Raises Stake in Blue Owl Capital Inc. (NYSE:OWL)

The Manufacturers Life Insurance Company boosted its position in Blue Owl Capital Inc. (NYSE:OWL) by 19.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 99,866 shares of the company’s stock after purchasing an additional 16,189 shares during the period. The Manufacturers Life Insurance Company’s holdings in Blue Owl Capital were worth $1,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Capital World Investors increased its position in Blue Owl Capital by 0.3% during the 1st quarter. Capital World Investors now owns 63,339,128 shares of the company’s stock worth $1,194,576,000 after purchasing an additional 163,377 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Blue Owl Capital by 0.6% during the 1st 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 in the last quarter. Capital International Investors raised its position in shares of Blue Owl Capital by 0.3% during the 1st 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 in the last quarter. Capital Research Global Investors increased its position in Blue Owl Capital by 11.9% in the first quarter. Capital Research Global Investors now owns 10,512,628 shares of the company’s stock worth $198,268,000 after buying an additional 1,121,064 shares during the period. Finally, Stone Point Capital LLC acquired a new stake in Blue Owl Capital in the second quarter worth $112,749,000. Institutional investors and hedge funds own 35.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. TD Cowen reissued a “hold” rating and set a $19.00 price target (down from $21.50) on shares of Blue Owl Capital in a report on Monday, July 8th. Deutsche Bank Aktiengesellschaft decreased their target price on 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. Evercore ISI raised their target price on Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group decreased their target price on Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, JMP Securities raised their target price on Blue Owl Capital from $24.00 to $25.00 and gave the company a “market outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.90.

Blue Owl Capital Stock Up 1.2 %

NYSE:OWL opened at $20.96 on Friday. Blue Owl Capital Inc. has a 1-year low of $12.11 and a 1-year high of $21.21. The firm has a market capitalization of $29.94 billion, a price-to-earnings ratio of 174.63, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The stock has a fifty day simple moving average of $18.01 and a 200 day simple moving average of $18.25.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings data on Thursday, August 1st. 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 19.15% and a net margin of 4.64%. The firm had revenue of $549.85 million during the quarter, compared to analyst estimates of $507.22 million. During the same period last year, the company posted $0.16 EPS. Equities analysts predict that Blue Owl Capital Inc. will post 0.79 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.72 dividend on an annualized basis and a yield of 3.44%. Blue Owl Capital’s payout ratio is presently 600.00%.

Blue Owl Capital Profile

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.