Citigroup Inc. Sells 1,530,276 Shares of Blue Owl Capital Inc. $OWL

Citigroup Inc. lessened its holdings in Blue Owl Capital Inc. (NYSE:OWL) by 74.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 523,873 shares of the company’s stock after selling 1,530,276 shares during the period. Citigroup Inc.’s holdings in Blue Owl Capital were worth $8,869,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OWL. Vanguard Group Inc. lifted its holdings in shares of Blue Owl Capital by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 67,916,888 shares of the company’s stock worth $1,149,833,000 after acquiring an additional 4,968,526 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Blue Owl Capital by 16.8% in the third quarter. JPMorgan Chase & Co. now owns 11,572,226 shares of the company’s stock worth $195,920,000 after purchasing an additional 1,667,608 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Blue Owl Capital by 14.6% during the second quarter. Geode Capital Management LLC now owns 10,293,279 shares of the company’s stock valued at $197,766,000 after buying an additional 1,313,108 shares during the period. State Street Corp grew its stake in shares of Blue Owl Capital by 10.6% during the second quarter. State Street Corp now owns 9,880,565 shares of the company’s stock valued at $189,806,000 after buying an additional 950,700 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Blue Owl Capital during the 2nd quarter worth approximately $183,294,000. 35.85% of the stock is owned by institutional investors.

Blue Owl Capital Stock Down 6.1%

Shares of NYSE:OWL opened at $10.54 on Monday. The stock has a market cap of $16.38 billion, a P/E ratio of 105.36, a PEG ratio of 0.88 and a beta of 1.15. The business has a fifty day moving average of $13.95 and a two-hundred day moving average of $15.72. Blue Owl Capital Inc. has a 52-week low of $10.08 and a 52-week high of $21.89.

Blue Owl Capital (NYSE:OWL) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Blue Owl Capital had a net margin of 2.75% and a return on equity of 20.93%. The business had revenue of $701.47 million for the quarter, compared to analysts’ expectations of $712.75 million. On average, equities analysts anticipate that Blue Owl Capital Inc. will post 0.92 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 20th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date of this dividend is Friday, February 20th. Blue Owl Capital’s dividend payout ratio (DPR) is presently 900.00%.

Insider Activity

In related news, insider Craig Packer bought 110,227 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was bought at an average price of $15.06 per share, with a total value of $1,660,018.62. Following the completion of the transaction, the insider directly owned 94,000 shares of the company’s stock, valued at approximately $1,415,640. This represents a -679.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas I. Ostrover bought 139,327 shares of Blue Owl Capital stock in a transaction dated Tuesday, December 2nd. The shares were acquired at an average price of $15.06 per share, with a total value of $2,098,264.62. Following the completion of the purchase, the chief executive officer owned 158,000 shares in the company, valued at approximately $2,379,480. The trade was a 746.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 319,217 shares of company stock valued at $4,807,408 in the last ninety days. Company insiders own 27.44% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Piper Sandler cut their price objective on Blue Owl Capital from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. The Goldman Sachs Group cut their price target on shares of Blue Owl Capital from $16.25 to $14.00 and set a “neutral” rating on the stock in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blue Owl Capital in a research note on Wednesday, January 21st. UBS Group reduced their price objective on Blue Owl Capital from $16.50 to $12.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, Evercore set a $14.00 price objective on shares of Blue Owl Capital in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Blue Owl Capital Profile

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.