Sumitomo Mitsui Trust Group Inc. Sells 78,770 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Blue Owl Capital Co. (NYSE:OBDC) by 11.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 612,613 shares of the company’s stock after selling 78,770 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Blue Owl Capital worth $8,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Blue Owl Capital by 4.9% during the third quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company’s stock valued at $112,754,000 after buying an additional 347,155 shares during the last quarter. LSV Asset Management boosted its stake in Blue Owl Capital by 10.4% during the second quarter. LSV Asset Management now owns 4,492,981 shares of the company’s stock valued at $69,012,000 after buying an additional 423,934 shares during the last quarter. Stephens Inc. AR boosted its stake in Blue Owl Capital by 4.3% during the third quarter. Stephens Inc. AR now owns 3,219,576 shares of the company’s stock valued at $46,909,000 after buying an additional 132,386 shares during the last quarter. Sound Income Strategies LLC raised its position in Blue Owl Capital by 4.8% during the third quarter. Sound Income Strategies LLC now owns 2,842,258 shares of the company’s stock valued at $41,412,000 after purchasing an additional 130,181 shares during the period. Finally, Sage Advisors LLC raised its position in Blue Owl Capital by 6.7% during the second quarter. Sage Advisors LLC now owns 1,925,424 shares of the company’s stock valued at $29,575,000 after purchasing an additional 120,115 shares during the period. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Trading Up 0.4 %

Shares of NYSE OBDC opened at $14.88 on Monday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28. The business’s 50 day moving average price is $14.88 and its 200-day moving average price is $15.35. Blue Owl Capital Co. has a fifty-two week low of $13.98 and a fifty-two week high of $16.91. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 9.24 and a beta of 0.86.

Blue Owl Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 dividend on an annualized basis and a yield of 9.95%. Blue Owl Capital’s payout ratio is 91.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OBDC. Wells Fargo & Company upped their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Raymond James downgraded Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods decreased their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $17.00 price objective on shares of Blue Owl Capital in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blue Owl Capital has a consensus rating of “Moderate Buy” and a consensus target price of $16.07.

Insider Buying and Selling at Blue Owl Capital

In other news, Director Edward H. Dalelio bought 2,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average cost of $15.02 per share, with a total value of $37,550.00. Following the transaction, the director now directly owns 9,016 shares in the company, valued at approximately $135,420.32. This trade represents a 38.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.