M&G PLC Sells 373,022 Shares of Blue Owl Capital Inc. $OWL

M&G PLC lessened its stake in shares of Blue Owl Capital Inc. (NYSE:OWL) by 19.6% during the 3rd quarter, Holdings Channel reports. The fund owned 1,528,640 shares of the company’s stock after selling 373,022 shares during the period. M&G PLC’s holdings in Blue Owl Capital were worth $13,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaCore Capital LLC increased its holdings in shares of Blue Owl Capital by 15.2% in the 3rd quarter. AlphaCore Capital LLC now owns 22,460 shares of the company’s stock valued at $204,000 after acquiring an additional 2,961 shares during the period. Fulcrum Asset Management LLP raised its position in shares of Blue Owl Capital by 140.0% in the 3rd quarter. Fulcrum Asset Management LLP now owns 92,045 shares of the company’s stock worth $854,000 after acquiring an additional 53,691 shares in the last quarter. Hohimer Wealth Management LLC purchased a new stake in shares of Blue Owl Capital during the 3rd quarter worth $349,000. Parallel Advisors LLC lifted its stake in shares of Blue Owl Capital by 43.7% during the 3rd quarter. Parallel Advisors LLC now owns 72,879 shares of the company’s stock worth $662,000 after purchasing an additional 22,167 shares during the last quarter. Finally, Heritage Family Offices LLP purchased a new stake in shares of Blue Owl Capital during the 3rd quarter worth $53,000. Institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Trading Down 1.4%

NYSE OWL opened at $10.22 on Wednesday. The firm’s fifty day simple moving average is $9.85 and its two-hundred day simple moving average is $10.18. Blue Owl Capital Inc. has a 12-month low of $7.95 and a 12-month high of $17.00. The firm has a market capitalization of $16.01 billion, a P/E ratio of 73.01, a P/E/G ratio of 1.16 and a beta of 1.31.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Blue Owl Capital had a return on equity of 24.70% and a net margin of 3.08%. The firm had revenue of $752.60 million during the quarter, compared to analyst estimates of $698.10 million. As a group, sell-side analysts predict that Blue Owl Capital Inc. will post 0.89 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Tuesday, November 10th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 9.0%. The ex-dividend date is Tuesday, November 10th. Blue Owl Capital’s payout ratio is 657.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Oppenheimer raised their price objective on Blue Owl Capital from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. The Goldman Sachs Group boosted their target price on shares of Blue Owl Capital from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Monday, November 2nd. Keefe, Bruyette & Woods increased their price target on shares of Blue Owl Capital from $9.00 to $10.50 and gave the company a “market perform” rating in a research report on Friday, October 30th. Citigroup reissued a “market outperform” rating on shares of Blue Owl Capital in a research report on Thursday, September 24th. Finally, TD Cowen raised their price target on shares of Blue Owl Capital from $15.00 to $16.00 and gave the company a “buy” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Insiders Place Their Bets

In related news, General Counsel Neena Reddy sold 40,292 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $10.40, for a total transaction of $419,036.80. Following the transaction, the general counsel directly owned 575,892 shares of the company’s stock, valued at $5,989,276.80. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 25.74% of the stock is currently owned by company insiders.

Blue Owl Capital Profile

Blue Owl Capital Inc. is an alternative asset manager that provides private-market investment strategies and capital solutions to institutional and individual investors. Its businesses span private credit, GP strategic capital and real assets. Through its credit platform, the company provides financing to businesses, including middle-market companies. Its GP strategic capital business invests in and provides financing to alternative asset managers, while its real assets platform focuses on areas such as real estate and infrastructure.