Principal Financial Group Inc. Sells 363,675 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Principal Financial Group Inc. cut its holdings in Blue Owl Capital Inc. (NYSE:OWL) by 89.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,157 shares of the company’s stock after selling 363,675 shares during the period. Principal Financial Group Inc.’s holdings in Blue Owl Capital were worth $836,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OWL. Franklin Resources Inc. grew its position in Blue Owl Capital by 12.4% in the third quarter. Franklin Resources Inc. now owns 2,818,874 shares of the company’s stock worth $54,573,000 after acquiring an additional 311,385 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Blue Owl Capital in the 3rd quarter worth approximately $138,000. Sanctuary Advisors LLC boosted its holdings in shares of Blue Owl Capital by 37.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 75,869 shares of the company’s stock worth $1,469,000 after purchasing an additional 20,774 shares during the period. Hohimer Wealth Management LLC increased its position in shares of Blue Owl Capital by 4.3% during the 3rd quarter. Hohimer Wealth Management LLC now owns 40,066 shares of the company’s stock valued at $776,000 after purchasing an additional 1,656 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in Blue Owl Capital by 149.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 32,430 shares of the company’s stock valued at $628,000 after buying an additional 19,434 shares during the period. 35.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OWL has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Blue Owl Capital from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Keefe, Bruyette & Woods increased their price objective on shares of Blue Owl Capital from $22.00 to $26.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Oppenheimer boosted their target price on Blue Owl Capital from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Evercore ISI increased their price target on Blue Owl Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Piper Sandler raised their price target on Blue Owl Capital from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.73.

Blue Owl Capital Trading Up 1.9 %

Shares of Blue Owl Capital stock opened at $24.03 on Friday. Blue Owl Capital Inc. has a 12 month low of $14.42 and a 12 month high of $25.03. The stock’s fifty day moving average price is $23.40 and its 200-day moving average price is $20.30. The firm has a market cap of $35.89 billion, a P/E ratio of 141.36, a P/E/G ratio of 1.66 and a beta of 1.14.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, October 31st. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates of $0.20. Blue Owl Capital had a net margin of 4.95% and a return on equity of 19.98%. The business had revenue of $600.88 million for the quarter, compared to the consensus estimate of $565.93 million. During the same quarter last year, the firm posted $0.16 EPS. Analysts forecast that Blue Owl Capital Inc. will post 0.78 earnings per share for the current year.

Blue Owl Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, November 11th. This represents a $0.72 dividend on an annualized basis and a yield of 3.00%. Blue Owl Capital’s dividend payout ratio is currently 423.53%.

Blue Owl Capital Company Profile

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.