Royal Bank of Canada Has $10.24 Million Position in Blue Owl Technology Finance Corp. $OTF

Royal Bank of Canada increased its stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) by 179.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 826,317 shares of the company’s stock after acquiring an additional 530,185 shares during the quarter. Royal Bank of Canada’s holdings in Blue Owl Technology Finance were worth $10,238,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. NewEdge Wealth LLC increased its stake in Blue Owl Technology Finance by 3.3% in the fourth quarter. NewEdge Wealth LLC now owns 69,925 shares of the company’s stock valued at $1,017,000 after purchasing an additional 2,218 shares in the last quarter. Lido Advisors LLC grew its stake in shares of Blue Owl Technology Finance by 22.6% in the 4th quarter. Lido Advisors LLC now owns 14,545 shares of the company’s stock valued at $208,000 after buying an additional 2,683 shares during the period. Kestra Advisory Services LLC increased its position in Blue Owl Technology Finance by 39.1% in the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock valued at $152,000 after buying an additional 3,443 shares in the last quarter. Blair William & Co. IL increased its position in Blue Owl Technology Finance by 41.4% in the 4th quarter. Blair William & Co. IL now owns 14,807 shares of the company’s stock valued at $215,000 after buying an additional 4,334 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Blue Owl Technology Finance by 31.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,321 shares of the company’s stock worth $413,000 after buying an additional 8,010 shares during the period.

Blue Owl Technology Finance Trading Up 0.3%

Shares of NYSE:OTF opened at $11.73 on Monday. The stock’s fifty day simple moving average is $10.55 and its two-hundred day simple moving average is $11.43. Blue Owl Technology Finance Corp. has a 1-year low of $9.75 and a 1-year high of $15.82. The stock has a market cap of $5.38 billion, a PE ratio of 14.66 and a beta of -0.86.

Blue Owl Technology Finance (NYSE:OTF) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $279.54 million for the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts forecast that Blue Owl Technology Finance Corp. will post 1.26 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 11.9%. The ex-dividend date of this dividend is Wednesday, September 30th. This is a positive change from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. Blue Owl Technology Finance’s payout ratio is currently 175.00%.

Insider Activity

In other Blue Owl Technology Finance news, Director Chris Temple bought 7,000 shares of Blue Owl Technology Finance stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $10.71 per share, with a total value of $74,970.00. Following the completion of the acquisition, the director directly owned 12,000 shares in the company, valued at approximately $128,520. The trade was a 140.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Melissa Weiler bought 10,000 shares of Blue Owl Technology Finance stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $10.90 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at $109,000. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Truist Financial lowered their target price on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Zacks Research upgraded Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. Citizens Jmp lifted their price target on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Friday. Finally, Royal Bank Of Canada lowered their price objective on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating on the stock in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Blue Owl Technology Finance currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Blue Owl Technology Finance Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.