State of New Jersey Common Pension Fund D Sells 51,316 Shares of Blue Owl Capital Inc. (NYSE:OWL)

State of New Jersey Common Pension Fund D decreased its holdings in Blue Owl Capital Inc. (NYSE:OWL) by 24.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,587 shares of the company’s stock after selling 51,316 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Blue Owl Capital were worth $2,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Capital World Investors boosted its stake in shares of Blue Owl Capital by 0.3% during the 1st quarter. Capital World Investors now owns 63,339,128 shares of the company’s stock valued at $1,194,576,000 after purchasing an additional 163,377 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Blue Owl Capital by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 40,731,640 shares of the company’s stock worth $768,199,000 after acquiring an additional 250,977 shares during the period. Capital International Investors raised its position in shares of Blue Owl Capital by 0.3% in the 1st quarter. Capital International Investors now owns 33,284,962 shares of the company’s stock worth $627,754,000 after acquiring an additional 107,321 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Blue Owl Capital by 11.9% in the 1st quarter. Capital Research Global Investors now owns 10,512,628 shares of the company’s stock valued at $198,268,000 after purchasing an additional 1,121,064 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Blue Owl Capital by 6.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,529,065 shares of the company’s stock valued at $85,418,000 after purchasing an additional 277,526 shares during the period. Institutional investors own 35.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OWL shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Blue Owl Capital from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Piper Sandler lowered their price target on shares of Blue Owl Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Oppenheimer upgraded shares of Blue Owl Capital from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Friday, August 2nd. UBS Group lowered their target price on shares of Blue Owl Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, TD Cowen restated a “hold” rating and issued a $19.00 price target (down previously from $21.50) on shares of Blue Owl Capital in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.10.

Blue Owl Capital Price Performance

OWL stock opened at $18.17 on Thursday. The stock has a market capitalization of $25.95 billion, a P/E ratio of 151.38, a P/E/G ratio of 1.07 and a beta of 1.17. Blue Owl Capital Inc. has a 1-year low of $12.11 and a 1-year high of $20.13. The business has a fifty day moving average price of $17.71 and a 200-day moving average price of $18.03.

Blue Owl Capital (NYSE:OWL) last issued its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $549.85 million during the quarter, compared to analyst estimates of $507.22 million. Blue Owl Capital had a return on equity of 19.15% and a net margin of 4.64%. During the same quarter in the previous year, the firm earned $0.16 EPS. As a group, analysts anticipate that Blue Owl Capital Inc. will post 0.79 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Wednesday, August 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Wednesday, August 21st. Blue Owl Capital’s dividend payout ratio is currently 600.00%.

Blue Owl Capital Company 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.