Northern Trust Corp Purchases 608,518 Shares of Blue Owl Capital Corporation $OBDC

Northern Trust Corp lifted its stake in Blue Owl Capital Corporation (NYSE:OBDC) by 419.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 753,720 shares of the company’s stock after acquiring an additional 608,518 shares during the quarter. Northern Trust Corp owned 0.15% of Blue Owl Capital worth $11,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in Blue Owl Capital by 349.3% during the fourth quarter. Jane Street Group LLC now owns 573,375 shares of the company’s stock valued at $8,669,000 after purchasing an additional 445,761 shares in the last quarter. AXA S.A. bought a new stake in Blue Owl Capital in the fourth quarter worth $617,000. Ameriprise Financial Inc. increased its position in Blue Owl Capital by 5.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,786,738 shares of the company’s stock worth $72,361,000 after purchasing an additional 236,467 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Blue Owl Capital in the fourth quarter worth $673,000. Finally, Baird Financial Group Inc. increased its position in Blue Owl Capital by 10.8% during the fourth quarter. Baird Financial Group Inc. now owns 14,555 shares of the company’s stock valued at $220,000 after acquiring an additional 1,422 shares during the last quarter. 42.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OBDC has been the subject of a number of recent analyst reports. B. Riley initiated coverage on shares of Blue Owl Capital in a research note on Tuesday, May 13th. They set a “buy” rating and a $15.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $16.00 price target on shares of Blue Owl Capital in a research report on Thursday, May 15th. Finally, LADENBURG THALM/SH SH raised shares of Blue Owl Capital to a “strong-buy” rating in a research report on Friday, August 8th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.42.

Blue Owl Capital Trading Up 0.9%

Shares of OBDC opened at $14.36 on Friday. Blue Owl Capital Corporation has a 52-week low of $12.11 and a 52-week high of $15.73. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average is $14.43 and its two-hundred day moving average is $14.44. The stock has a market cap of $7.34 billion, a PE ratio of 9.51 and a beta of 0.76.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, August 6th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. The company had revenue of $485.84 million for the quarter, compared to analysts’ expectations of $480.42 million. Blue Owl Capital had a net margin of 38.29% and a return on equity of 11.24%. Research analysts forecast that Blue Owl Capital Corporation will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.01. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Blue Owl Capital’s dividend payout ratio is currently 98.01%.

Blue Owl Capital Profile

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.