The Manufacturers Life Insurance Company Has $1.36 Million Stock Holdings in Blue Owl Technology Finance Corp. $OTF

The Manufacturers Life Insurance Company raised its holdings in Blue Owl Technology Finance Corp. (NYSE:OTF) by 753.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,811 shares of the company’s stock after buying an additional 96,949 shares during the period. The Manufacturers Life Insurance Company’s holdings in Blue Owl Technology Finance were worth $1,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OTF. Quantinno Capital Management LP bought a new stake in shares of Blue Owl Technology Finance during the first quarter worth about $184,000. OMERS ADMINISTRATION Corp lifted its position in Blue Owl Technology Finance by 96.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 739,927 shares of the company’s stock valued at $9,168,000 after acquiring an additional 363,735 shares in the last quarter. Callodine Capital Management LP bought a new position in Blue Owl Technology Finance in the 1st quarter valued at about $2,168,000. Lido Advisors LLC boosted its stake in Blue Owl Technology Finance by 71.1% during the 1st quarter. Lido Advisors LLC now owns 24,892 shares of the company’s stock valued at $318,000 after purchasing an additional 10,347 shares during the last quarter. Finally, Forefront Analytics LLC acquired a new position in Blue Owl Technology Finance during the 1st quarter valued at about $367,000.

Blue Owl Technology Finance Trading Up 2.8%

Shares of Blue Owl Technology Finance stock opened at $11.70 on Wednesday. The business’s fifty day simple moving average is $10.57 and its 200 day simple moving average is $11.39. Blue Owl Technology Finance Corp. has a 12 month low of $9.75 and a 12 month high of $15.82. The firm has a market capitalization of $5.36 billion, a P/E ratio of 14.63 and a beta of -0.86.

Blue Owl Technology Finance (NYSE:OTF) last announced its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $279.54 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.During the same period in the prior year, the business earned $0.45 earnings per share. Analysts predict that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 12.0%. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, September 30th. Blue Owl Technology Finance’s dividend payout ratio is 175.00%.

Analysts Set New Price Targets

Several analysts have recently commented on OTF shares. Truist Financial lowered their price objective on Blue Owl Technology Finance from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Zacks Research raised Blue Owl Technology Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Citizens Jmp upped their price target on Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Wells Fargo & Company dropped their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Royal Bank Of Canada reduced their target price on shares of Blue Owl Technology Finance from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blue Owl Technology Finance currently has an average rating of “Moderate Buy” and an average price target of $13.60.

Insider Buying and Selling

In related news, Director Chris Temple acquired 7,000 shares of the stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $10.71 per share, with a total value of $74,970.00. Following the completion of the transaction, the director owned 12,000 shares in the company, valued at approximately $128,520. The trade was a 140.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

Blue Owl Technology Finance Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.