Princeton Global Asset Management LLC Sells 74,341 Shares of Blue Owl Capital Inc. $OWL

Princeton Global Asset Management LLC reduced its stake in shares of Blue Owl Capital Inc. (NYSE:OWL) by 90.1% during the second quarter, Holdings Channel reports. The institutional investor owned 8,212 shares of the company’s stock after selling 74,341 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Blue Owl Capital were worth $158,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Blue Owl Capital by 13.5% during the first quarter. Vanguard Group Inc. now owns 60,412,887 shares of the company’s stock worth $1,210,674,000 after purchasing an additional 7,206,495 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Blue Owl Capital by 4.6% during the first quarter. JPMorgan Chase & Co. now owns 9,671,728 shares of the company’s stock worth $193,821,000 after purchasing an additional 422,745 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Blue Owl Capital by 0.4% during the first quarter. Federated Hermes Inc. now owns 6,901,500 shares of the company’s stock worth $138,306,000 after purchasing an additional 24,800 shares during the period. Beck Mack & Oliver LLC boosted its holdings in shares of Blue Owl Capital by 12.1% during the first quarter. Beck Mack & Oliver LLC now owns 6,777,668 shares of the company’s stock worth $135,824,000 after purchasing an additional 732,452 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in shares of Blue Owl Capital by 1.4% during the first quarter. Cresset Asset Management LLC now owns 6,140,749 shares of the company’s stock worth $123,061,000 after purchasing an additional 87,684 shares during the period. 35.85% of the stock is currently owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Up 3.1%

Shares of OWL opened at $16.69 on Tuesday. The company has a market capitalization of $25.85 billion, a P/E ratio of 185.42, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13. The firm has a 50 day moving average of $17.89 and a 200 day moving average of $18.48. Blue Owl Capital Inc. has a twelve month low of $14.55 and a twelve month high of $26.73.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $703.11 million during the quarter, compared to the consensus estimate of $642.13 million. Blue Owl Capital had a net margin of 2.88% and a return on equity of 19.64%. On average, sell-side analysts expect that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, August 14th. Blue Owl Capital’s payout ratio is 1,000.00%.

Analysts Set New Price Targets

Several brokerages have commented on OWL. Piper Sandler lowered their price objective on shares of Blue Owl Capital from $23.50 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. The Goldman Sachs Group lowered their price objective on shares of Blue Owl Capital from $21.50 to $19.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Evercore ISI raised their price objective on shares of Blue Owl Capital from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, July 10th. BMO Capital Markets assumed coverage on shares of Blue Owl Capital in a report on Friday, October 3rd. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, Barclays decreased their target price on shares of Blue Owl Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.38.

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.