Bank of America Corp DE Sells 544,455 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Bank of America Corp DE trimmed its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,442,386 shares of the company’s stock after selling 544,455 shares during the period. Bank of America Corp DE owned about 2.68% of Blue Owl Capital worth $157,889,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in Blue Owl Capital by 5.2% during the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company’s stock valued at $72,361,000 after purchasing an additional 236,467 shares during the last quarter. Stephens Inc. AR boosted its holdings in Blue Owl Capital by 3.3% in the 4th quarter. Stephens Inc. AR now owns 3,326,298 shares of the company’s stock worth $50,294,000 after buying an additional 106,722 shares during the period. Sound Income Strategies LLC raised its holdings in Blue Owl Capital by 6.4% during the 4th quarter. Sound Income Strategies LLC now owns 3,024,260 shares of the company’s stock valued at $45,727,000 after acquiring an additional 182,002 shares during the period. JPMorgan Chase & Co. grew its position in shares of Blue Owl Capital by 7.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,436,706 shares of the company’s stock valued at $36,843,000 after purchasing an additional 174,759 shares in the last quarter. Finally, Generali Asset Management SPA SGR bought a new stake in shares of Blue Owl Capital during the 4th quarter valued at $34,103,000. Institutional investors own 42.83% of the company’s stock.

Insider Buying and Selling at Blue Owl Capital

In related news, Director Chris Temple purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $14.80 per share, for a total transaction of $222,000.00. Following the completion of the acquisition, the director now directly owns 51,000 shares in the company, valued at approximately $754,800. The trade was a 41.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $13.90 on Friday. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 9.09 and a beta of 0.71. The company has a fifty day moving average of $14.18 and a 200-day moving average of $14.79. Blue Owl Capital Co. has a 52-week low of $12.11 and a 52-week high of $16.91. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.28 and a current ratio of 1.19.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. The company had revenue of $464.65 million for the quarter, compared to the consensus estimate of $457.88 million. Equities research analysts expect that Blue Owl Capital Co. will post 1.71 EPS for the current year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 10.65%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s dividend payout ratio is presently 96.73%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Blue Owl Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Monday, May 5th. JMP Securities reiterated an “outperform” rating on shares of Blue Owl Capital in a research report on Tuesday, February 4th. Citizens Jmp upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Blue Owl Capital from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price objective on Blue Owl Capital from $15.10 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Blue Owl Capital has an average rating of “Moderate Buy” and an average price target of $15.93.

Blue Owl Capital 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.