Principal Financial Group Inc. Sells 8,265 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Principal Financial Group Inc. reduced its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 19.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,274 shares of the company’s stock after selling 8,265 shares during the quarter. Principal Financial Group Inc.’s holdings in Blue Owl Capital were worth $707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of Blue Owl Capital by 28.1% in the 4th quarter. FMR LLC now owns 45,241,160 shares of the company’s stock valued at $1,052,309,000 after buying an additional 9,917,071 shares during the last quarter. Capital World Investors increased its position in Blue Owl Capital by 14.5% during the 4th quarter. Capital World Investors now owns 77,168,640 shares of the company’s stock worth $1,794,943,000 after buying an additional 9,794,102 shares during the period. Cresset Asset Management LLC increased its position in shares of Blue Owl Capital by 4,278.0% in the fourth quarter. Cresset Asset Management LLC now owns 6,053,065 shares of the company’s stock worth $140,794,000 after purchasing an additional 5,914,804 shares during the period. Norges Bank bought a new position in shares of Blue Owl Capital in the fourth quarter worth $137,118,000. Finally, Vanguard Group Inc. increased its position in shares of Blue Owl Capital by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 53,206,392 shares of the company’s stock worth $1,237,581,000 after purchasing an additional 5,558,868 shares during the period. 35.85% of the stock is owned by institutional investors.

Blue Owl Capital Stock Down 0.9%

Shares of NYSE OWL opened at $20.62 on Friday. Blue Owl Capital Inc. has a 52 week low of $14.55 and a 52 week high of $26.73. The business has a 50-day simple moving average of $19.13 and a two-hundred day simple moving average of $20.35. The company has a market cap of $31.71 billion, a P/E ratio of 158.63, a P/E/G ratio of 1.41 and a beta of 1.17.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $620.19 million for the quarter, compared to the consensus estimate of $636.44 million. Blue Owl Capital had a net margin of 3.73% and a return on equity of 19.74%. Equities research analysts anticipate that Blue Owl Capital Inc. will post 0.92 EPS for the current year.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a $0.225 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.90 annualized dividend and a yield of 4.36%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.18. Blue Owl Capital’s payout ratio is presently 692.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cfra Research raised Blue Owl Capital to a “moderate buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company lifted their price target on Blue Owl Capital from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, May 23rd. UBS Group cut their price target on Blue Owl Capital from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Citigroup cut their price target on Blue Owl Capital from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays lifted their price target on Blue Owl Capital from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Blue Owl Capital currently has a consensus rating of “Moderate Buy” and an average price target of $24.02.

About Blue Owl Capital

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.