Johnson Financial Group Inc. Cuts Holdings in Blue Owl Capital Corporation $OBDC

Johnson Financial Group Inc. lowered its position in shares of Blue Owl Capital Corporation (NYSE:OBDC) by 13.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 430,540 shares of the company’s stock after selling 69,317 shares during the quarter. Johnson Financial Group Inc. owned approximately 0.08% of Blue Owl Capital worth $5,651,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in Blue Owl Capital by 25.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,924,363 shares of the company’s stock worth $28,211,000 after acquiring an additional 384,641 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Blue Owl Capital during the first quarter worth about $6,641,000. Envestnet Asset Management Inc. grew its position in shares of Blue Owl Capital by 1.0% during the second quarter. Envestnet Asset Management Inc. now owns 138,171 shares of the company’s stock worth $1,981,000 after acquiring an additional 1,432 shares during the last quarter. Midwest Trust Co acquired a new position in Blue Owl Capital during the 2nd quarter valued at about $278,000. Finally, Allworth Financial LP boosted its holdings in Blue Owl Capital by 24,533.3% in the second quarter. Allworth Financial LP now owns 3,695 shares of the company’s stock worth $53,000 after acquiring an additional 3,680 shares in the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

OBDC has been the topic of several research reports. Wall Street Zen cut Blue Owl Capital from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Truist Financial reduced their price target on shares of Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Royal Bank Of Canada reduced their target price on shares of Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Keefe, Bruyette & Woods cut their target price on Blue Owl Capital from $13.50 to $12.50 and set a “market perform” rating on the stock in a report on Monday, February 23rd. Finally, Zacks Research upgraded shares of Blue Owl Capital from a “strong sell” rating to a “hold” rating in a research report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.06.

Blue Owl Capital Stock Down 1.7%

OBDC opened at $10.99 on Friday. The business’s fifty day moving average is $11.90 and its two-hundred day moving average is $12.66. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 8.86 and a beta of 0.67. Blue Owl Capital Corporation has a one year low of $10.70 and a one year high of $15.36.

Blue Owl Capital (NYSE:OBDC) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $439.50 million for the quarter, compared to analyst estimates of $454.38 million. Blue Owl Capital had a net margin of 33.89% and a return on equity of 10.07%. Analysts anticipate that Blue Owl Capital Corporation will post 1.71 EPS for the current fiscal year.

Blue Owl Capital declared that its board has initiated a stock buyback program on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Blue Owl Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 13.5%. The ex-dividend date is Tuesday, March 31st. Blue Owl Capital’s payout ratio is currently 119.35%.

About Blue Owl Capital

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.