The Manufacturers Life Insurance Company Has $3.39 Million Stake in Blue Owl Capital Co. (NYSE:OBDC)

The Manufacturers Life Insurance Company decreased its stake in shares of Blue Owl Capital Co. (NYSE:OBDC) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,996 shares of the company’s stock after selling 1,938 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Blue Owl Capital worth $3,394,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. National Bank of Canada FI bought a new stake in shares of Blue Owl Capital in the second quarter valued at about $26,000. CWM LLC lifted its stake in Blue Owl Capital by 98.6% in the 2nd quarter. CWM LLC now owns 2,079 shares of the company’s stock valued at $32,000 after acquiring an additional 1,032 shares in the last quarter. Headlands Technologies LLC acquired a new position in Blue Owl Capital during the 1st quarter worth approximately $40,000. Newbridge Financial Services Group Inc. bought a new position in shares of Blue Owl Capital during the 4th quarter worth approximately $38,000. Finally, Retirement Group LLC raised its holdings in shares of Blue Owl Capital by 216.8% in the first quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock valued at $48,000 after purchasing an additional 2,125 shares during the last quarter. 42.83% of the stock is owned by institutional investors.

Blue Owl Capital Trading Up 0.1 %

Shares of OBDC stock opened at $14.85 on Wednesday. The stock has a 50 day simple moving average of $14.78 and a 200 day simple moving average of $15.47. Blue Owl Capital Co. has a 1 year low of $12.99 and a 1 year high of $16.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.24. The stock has a market cap of $5.79 billion, a P/E ratio of 7.50 and a beta of 0.87.

Blue Owl Capital (NYSE:OBDC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The business had revenue of $396.76 million during the quarter, compared to the consensus estimate of $388.84 million. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%. On average, research analysts predict that Blue Owl Capital Co. will post 1.91 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.05. Blue Owl Capital’s dividend payout ratio is 74.75%.

Insider Buying and Selling

In other Blue Owl Capital news, Director Edward H. Dalelio bought 2,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was purchased at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on OBDC shares. Wells Fargo & Company lowered their price target on shares of Blue Owl Capital from $15.50 to $14.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Keefe, Bruyette & Woods lowered their target price on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research report on Tuesday, August 20th. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research report on Monday, August 12th. Finally, Truist Financial cut their price objective on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.94.

Blue Owl Capital Company 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.