Principal Financial Group Inc. Has $836,000 Stock Position in Blue Owl Capital Inc. (NYSE:OWL)

Principal Financial Group Inc. cut its stake in Blue Owl Capital Inc. (NYSE:OWL) by 89.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 43,157 shares of the company’s stock after selling 363,675 shares during the quarter. Principal Financial Group Inc.’s holdings in Blue Owl Capital were worth $836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OWL. Transcendent Capital Group LLC acquired a new position in Blue Owl Capital during the first quarter worth $26,000. ORG Partners LLC bought a new position in Blue Owl Capital during the 2nd quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new position in Blue Owl Capital in the third quarter valued at about $32,000. Family Firm Inc. acquired a new position in Blue Owl Capital in the second quarter valued at about $40,000. Finally, Rothschild Investment LLC bought a new stake in Blue Owl Capital during the second quarter worth about $45,000. Institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Stock Up 0.9 %

Shares of OWL stock opened at $24.55 on Friday. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 144.41, a PEG ratio of 1.63 and a beta of 1.14. Blue Owl Capital Inc. has a 12 month low of $13.01 and a 12 month high of $24.70. The stock has a 50-day moving average price of $21.55 and a 200 day moving average price of $19.15.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The company had revenue of $600.88 million during the quarter, compared to analysts’ expectations of $565.93 million. Blue Owl Capital had a net margin of 4.95% and a return on equity of 19.98%. During the same quarter in the previous year, the company earned $0.16 EPS. Sell-side analysts predict that Blue Owl Capital Inc. will post 0.78 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Monday, November 11th. Blue Owl Capital’s dividend payout ratio is presently 423.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Blue Owl Capital from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Oppenheimer lifted their price objective on Blue Owl Capital from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their target price on Blue Owl Capital from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price target on Blue Owl Capital from $18.50 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Piper Sandler upped their price target on shares of Blue Owl Capital from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Blue Owl Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.31.

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.