PNC Financial Services Group Inc. Increases Stake in Blue Owl Capital Inc. $OWL

PNC Financial Services Group Inc. grew its position in Blue Owl Capital Inc. (NYSE:OWL) by 86.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 159,885 shares of the company’s stock after purchasing an additional 74,061 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Blue Owl Capital were worth $2,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Blue Owl Capital by 20.3% during the 3rd quarter. Bessemer Group Inc. now owns 4,967 shares of the company’s stock valued at $84,000 after acquiring an additional 838 shares during the period. Parkside Financial Bank & Trust raised its stake in Blue Owl Capital by 117.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,608 shares of the company’s stock worth $27,000 after acquiring an additional 867 shares during the period. Stonegate Investment Group LLC lifted its holdings in Blue Owl Capital by 3.6% during the third quarter. Stonegate Investment Group LLC now owns 25,465 shares of the company’s stock valued at $431,000 after purchasing an additional 884 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in Blue Owl Capital by 1.2% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 76,939 shares of the company’s stock valued at $1,149,000 after purchasing an additional 909 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC boosted its position in shares of Blue Owl Capital by 83.5% in the fourth quarter. Halbert Hargrove Global Advisors LLC now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 910 shares during the period. Institutional investors own 35.85% of the company’s stock.

Blue Owl Capital Stock Up 0.4%

OWL opened at $10.10 on Wednesday. The company has a market capitalization of $15.70 billion, a PE ratio of 84.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.19. The firm has a 50-day simple moving average of $9.36 and a two-hundred day simple moving average of $12.30. Blue Owl Capital Inc. has a 52 week low of $7.95 and a 52 week high of $21.08.

Blue Owl Capital (NYSE:OWL) last issued its earnings results on Thursday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $699.88 million for the quarter, compared to analysts’ expectations of $687.23 million. Blue Owl Capital had a return on equity of 21.97% and a net margin of 2.96%. As a group, sell-side analysts expect that Blue Owl Capital Inc. will post 0.88 earnings per share for the current year.

Blue Owl Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date of this dividend is Wednesday, May 13th. This is a positive change from Blue Owl Capital’s previous quarterly dividend of $0.23. Blue Owl Capital’s dividend payout ratio is presently 766.67%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OWL. JPMorgan Chase & Co. decreased their price objective on shares of Blue Owl Capital from $19.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Citizens Jmp dropped their target price on shares of Blue Owl Capital from $23.00 to $21.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. UBS Group increased their price target on Blue Owl Capital from $9.00 to $9.50 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Zacks Research cut Blue Owl Capital from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Blue Owl Capital in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.04.

About Blue Owl Capital

Blue Owl Capital is a global alternative asset manager that focuses on private credit, direct lending and equity-related strategies for institutional investors. Headquartered in New York, the firm develops and manages a range of private markets products designed to provide capital solutions to middle-market and larger corporate borrowers, as well as liquidity and partnership arrangements with private equity firms and other alternative managers.

Its core activities include direct lending and credit strategies that provide senior, unitranche and other structured loan products to companies across industries.