HighTower Advisors LLC Buys 811,334 Shares of Blue Owl Capital Inc. (NYSE:OWL)

HighTower Advisors LLC increased its stake in Blue Owl Capital Inc. (NYSE:OWL) by 29.1% during the third quarter, HoldingsChannel reports. The firm owned 3,599,852 shares of the company’s stock after acquiring an additional 811,334 shares during the period. HighTower Advisors LLC’s holdings in Blue Owl Capital were worth $69,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. King Luther Capital Management Corp lifted its position in shares of Blue Owl Capital by 0.6% during the 3rd quarter. King Luther Capital Management Corp now owns 79,919 shares of the company’s stock valued at $1,547,000 after buying an additional 485 shares during the last quarter. Apollon Wealth Management LLC raised its stake in Blue Owl Capital by 1.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 52,097 shares of the company’s stock valued at $1,009,000 after acquiring an additional 565 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Blue Owl Capital by 0.6% during the third quarter. PNC Financial Services Group Inc. now owns 95,623 shares of the company’s stock valued at $1,851,000 after purchasing an additional 575 shares during the last quarter. MAI Capital Management increased its stake in shares of Blue Owl Capital by 0.3% in the third quarter. MAI Capital Management now owns 189,251 shares of the company’s stock worth $3,664,000 after purchasing an additional 607 shares in the last quarter. Finally, Affinity Wealth Management LLC increased its stake in shares of Blue Owl Capital by 5.3% in the third quarter. Affinity Wealth Management LLC now owns 13,347 shares of the company’s stock worth $258,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OWL shares. UBS Group raised their price objective on shares of Blue Owl Capital from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Oppenheimer raised their price target on Blue Owl Capital from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on Blue Owl Capital from $18.50 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI raised their target price on Blue Owl Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, JMP Securities upped their price target on Blue Owl Capital from $25.00 to $27.00 and gave the company a “market outperform” rating in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.31.

Blue Owl Capital Price Performance

Shares of OWL opened at $23.02 on Wednesday. Blue Owl Capital Inc. has a 1-year low of $13.01 and a 1-year high of $25.03. The company has a market capitalization of $34.38 billion, a P/E ratio of 135.42, a P/E/G ratio of 1.54 and a beta of 1.14. The firm’s 50 day simple moving average is $22.20 and its 200 day simple moving average is $19.37.

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

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Monday, November 11th. Blue Owl Capital’s payout ratio is currently 423.55%.

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.