PNC Financial Services Group Inc. Sells 58,719 Shares of Blue Owl Capital Co. (NYSE:OBDC)

PNC Financial Services Group Inc. reduced its position in Blue Owl Capital Co. (NYSE:OBDC) by 92.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,028 shares of the company’s stock after selling 58,719 shares during the period. PNC Financial Services Group Inc.’s holdings in Blue Owl Capital were worth $76,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OBDC. Raymond James Trust N.A. lifted its stake in shares of Blue Owl Capital by 27.9% during the 3rd quarter. Raymond James Trust N.A. now owns 28,657 shares of the company’s stock valued at $418,000 after buying an additional 6,251 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Blue Owl Capital by 7.4% during the 3rd quarter. D.A. Davidson & CO. now owns 366,541 shares of the company’s stock valued at $5,341,000 after acquiring an additional 25,263 shares during the period. FORA Capital LLC purchased a new stake in shares of Blue Owl Capital during the third quarter worth $667,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Blue Owl Capital by 9.1% in the third quarter. Rockefeller Capital Management L.P. now owns 524,155 shares of the company’s stock worth $7,637,000 after acquiring an additional 43,770 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Blue Owl Capital by 78.3% in the third quarter. Captrust Financial Advisors now owns 22,389 shares of the company’s stock valued at $326,000 after purchasing an additional 9,833 shares in the last quarter. 42.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blue Owl Capital

In other news, Director Chris Temple bought 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $14.80 per share, with a total value of $222,000.00. Following the completion of the purchase, the director now directly owns 51,000 shares in the company, valued at $754,800. This represents a 41.67 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OBDC shares. JMP Securities restated an “outperform” rating on shares of Blue Owl Capital in a research report on Tuesday, February 4th. Wells Fargo & Company raised shares of Blue Owl Capital from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $14.00 to $15.00 in a report on Monday, March 17th. Keefe, Bruyette & Woods raised shares of Blue Owl Capital from a “moderate sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, Citizens Jmp raised Blue Owl Capital to a “strong-buy” rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.17.

Blue Owl Capital Price Performance

OBDC opened at $15.15 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.28 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $7.74 billion, a P/E ratio of 9.90 and a beta of 0.85. The stock has a 50-day moving average price of $15.03 and a 200-day moving average price of $15.02. Blue Owl Capital Co. has a 12-month low of $13.98 and a 12-month high of $16.91.

Blue Owl Capital (NYSE:OBDC) last issued its earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $394.39 million during the quarter, compared to analyst estimates of $395.24 million. Blue Owl Capital had a return on equity of 12.38% and a net margin of 37.26%. Equities analysts predict that Blue Owl Capital Co. will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.20 annualized dividend and a yield of 1.32%. Blue Owl Capital’s payout ratio is 96.73%.

About Blue Owl Capital

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.