PNC Financial Services Group Inc. Increases Stock Holdings in Blue Owl Capital Co. (NYSE:OBDC)

PNC Financial Services Group Inc. grew its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 63,747 shares of the company’s stock after purchasing an additional 5,415 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Blue Owl Capital were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Strategies Wealth Advisors LLC grew its position in Blue Owl Capital by 2.7% during the second quarter. Strategies Wealth Advisors LLC now owns 28,265 shares of the company’s stock valued at $434,000 after buying an additional 745 shares during the period. Intellectus Partners LLC grew its position in shares of Blue Owl Capital by 0.7% during the 2nd quarter. Intellectus Partners LLC now owns 120,846 shares of the company’s stock valued at $1,901,000 after acquiring an additional 809 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Blue Owl Capital by 2.0% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 44,212 shares of the company’s stock worth $679,000 after purchasing an additional 881 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Blue Owl Capital by 3.5% in the 3rd quarter. Gilbert & Cook Inc. now owns 29,327 shares of the company’s stock worth $427,000 after purchasing an additional 1,000 shares during the period. Finally, CWM LLC lifted its position in Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after purchasing an additional 1,032 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Analysts Set New Price Targets

OBDC has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Compass Point raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Monday, August 19th. Raymond James cut shares of Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods decreased their price objective on shares of 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 reaffirmed an “outperform” rating and issued a $17.00 target price on shares of Blue Owl Capital in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.07.

Blue Owl Capital Stock Up 0.1 %

Shares of OBDC stock opened at $15.15 on Friday. The stock has a market cap of $5.91 billion, a P/E ratio of 9.40 and a beta of 0.86. The company’s fifty day simple moving average is $14.94 and its two-hundred day simple moving average is $15.30. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. Blue Owl Capital Co. has a 52 week low of $13.98 and a 52 week high of $16.91.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 9.77%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.06. Blue Owl Capital’s dividend payout ratio (DPR) is currently 91.93%.

About Blue Owl Capital

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.