Principal Financial Group Inc. Trims Position in Blue Owl Capital Inc. (NYSE:OWL)

Principal Financial Group Inc. decreased its position in Blue Owl Capital Inc. (NYSE:OWL) by 89.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 43,157 shares of the company’s stock after selling 363,675 shares during the quarter. Principal Financial Group Inc.’s holdings in Blue Owl Capital were worth $836,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of Blue Owl Capital by 12.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,818,874 shares of the company’s stock worth $54,573,000 after purchasing an additional 311,385 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Blue Owl Capital during the third quarter valued at approximately $138,000. Sanctuary Advisors LLC raised its position in Blue Owl Capital by 37.7% in the third quarter. Sanctuary Advisors LLC now owns 75,869 shares of the company’s stock worth $1,469,000 after acquiring an additional 20,774 shares during the period. Hohimer Wealth Management LLC boosted its stake in shares of Blue Owl Capital by 4.3% during the 3rd quarter. Hohimer Wealth Management LLC now owns 40,066 shares of the company’s stock worth $776,000 after acquiring an additional 1,656 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its position in shares of Blue Owl Capital by 149.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 32,430 shares of the company’s stock valued at $628,000 after acquiring an additional 19,434 shares during the period. 35.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OWL has been the topic of a number of recent research reports. Oppenheimer raised their target price on Blue Owl Capital from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Blue Owl Capital from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI boosted their price objective on Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Piper Sandler raised their target price on shares of Blue Owl Capital from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, UBS Group upped their price target on shares of Blue Owl Capital from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.73.

Blue Owl Capital Stock Performance

OWL stock opened at $24.03 on Friday. The company’s fifty day moving average price is $23.40 and its 200-day moving average price is $20.30. Blue Owl Capital Inc. has a one year low of $14.42 and a one year high of $25.03. The company has a market capitalization of $35.89 billion, a PE ratio of 141.36, a price-to-earnings-growth ratio of 1.66 and a beta of 1.14.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.20 EPS for the quarter, hitting the consensus estimate of $0.20. The business had revenue of $600.88 million for the quarter, compared to analysts’ expectations of $565.93 million. Blue Owl Capital had a net margin of 4.95% and a return on equity of 19.98%. During the same quarter in the previous year, the company earned $0.16 EPS. On average, research analysts predict that Blue Owl Capital Inc. will post 0.78 EPS for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Monday, November 11th. Blue Owl Capital’s payout ratio is presently 423.53%.

About Blue Owl Capital

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.