Principal Financial Group Inc. Has $836,000 Stock Position in Blue Owl Capital Inc. (NYSE:OWL)

Principal Financial Group Inc. cut its holdings in shares of Blue Owl Capital Inc. (NYSE:OWL) by 89.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

Other hedge funds have also made changes to their positions in the company. Affinity Wealth Management LLC increased its position in Blue Owl Capital by 5.3% in the 3rd quarter. Affinity Wealth Management LLC now owns 13,347 shares of the company’s stock worth $258,000 after purchasing an additional 675 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Blue Owl Capital by 6.7% in the second quarter. Raymond James Trust N.A. now owns 11,217 shares of the company’s stock valued at $199,000 after acquiring an additional 708 shares during the last quarter. Capital Insight Partners LLC grew its position in Blue Owl Capital by 2.6% in the second quarter. Capital Insight Partners LLC now owns 32,637 shares of the company’s stock worth $579,000 after acquiring an additional 815 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Blue Owl Capital by 2.3% during the 3rd quarter. Private Advisor Group LLC now owns 38,986 shares of the company’s stock worth $755,000 after purchasing an additional 885 shares during the last quarter. Finally, Great Diamond Partners LLC raised its holdings in shares of Blue Owl Capital by 2.5% during the 2nd quarter. Great Diamond Partners LLC now owns 42,626 shares of the company’s stock valued at $757,000 after purchasing an additional 1,030 shares in the last quarter. 35.85% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $24.55 on Friday. The company has a market cap of $36.67 billion, a PE ratio of 144.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.14. The firm has a fifty day moving average price of $21.55 and a two-hundred day moving average price of $19.15. Blue Owl Capital Inc. has a fifty-two week low of $13.01 and a fifty-two week high of $24.70.

Blue Owl Capital (NYSE:OWL) last released its earnings results on Thursday, October 31st. The company reported $0.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.20. The business had revenue of $600.88 million for the quarter, compared to the consensus estimate of $565.93 million. Blue Owl Capital had a return on equity of 19.98% and a net margin of 4.95%. During the same period last year, the business earned $0.16 earnings per share. Analysts expect that Blue Owl Capital Inc. will post 0.78 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, November 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.93%. Blue Owl Capital’s payout ratio is 423.53%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OWL shares. Piper Sandler boosted their price target on Blue Owl Capital from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on Blue Owl Capital from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer lifted their price target on shares of Blue Owl Capital from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price objective on shares of Blue Owl Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, JMP Securities raised their target price on shares of Blue Owl Capital from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.31.

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.