The Manufacturers Life Insurance Company Decreases Stake in Blue Owl Capital Co. (NYSE:OBDC)

The Manufacturers Life Insurance Company reduced its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 92.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,476 shares of the company’s stock after selling 203,520 shares during the period. The Manufacturers Life Insurance Company’s holdings in Blue Owl Capital were worth $255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of OBDC. National Bank of Canada FI bought a new position in shares of Blue Owl Capital in the second quarter valued at $26,000. CWM LLC lifted its holdings in shares of Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after buying an additional 1,032 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Blue Owl Capital in the 2nd quarter worth $61,000. Zions Bancorporation N.A. bought a new stake in shares of Blue Owl Capital in the 2nd quarter worth approximately $61,000. Finally, EverSource Wealth Advisors LLC lifted its position in Blue Owl Capital by 604.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after purchasing an additional 3,580 shares during the period. 42.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on OBDC shares. Compass Point upgraded Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their price objective on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $14.00 price target (down from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.86.

Blue Owl Capital Trading Down 1.3 %

Blue Owl Capital stock opened at $15.10 on Tuesday. The stock has a market capitalization of $5.89 billion, a P/E ratio of 9.38 and a beta of 0.85. The stock has a 50-day simple moving average of $15.07 and a 200 day simple moving average of $15.18. Blue Owl Capital Co. has a 52 week low of $13.98 and a 52 week high of $16.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 annualized dividend and a yield of 9.80%. Blue Owl Capital’s payout ratio is 91.93%.

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.