Blue Owl Capital (NYSE:OWL) Given New $21.00 Price Target at Piper Sandler

Blue Owl Capital (NYSE:OWL) had its price target lowered by Piper Sandler from $23.00 to $21.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $21.00 price objective on shares of Blue Owl Capital in a research report on Monday, June 10th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $18.50 price target on shares of Blue Owl Capital in a research note on Thursday, June 13th. JMP Securities restated a market outperform rating and set a $24.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, April 9th. Citigroup restated a buy rating and issued a $21.00 target price on shares of Blue Owl Capital in a report on Tuesday, May 14th. Finally, TD Cowen reiterated a hold rating and set a $19.00 target price (down from $21.50) on shares of Blue Owl Capital in a research note on Monday, July 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $19.81.

Blue Owl Capital Stock Performance

Shares of NYSE OWL opened at $17.70 on Wednesday. The firm’s 50 day moving average price is $18.00 and its 200-day moving average price is $17.47. Blue Owl Capital has a 52-week low of $10.64 and a 52-week high of $19.87. The company has a market cap of $25.29 billion, a PE ratio of 147.50, a P/E/G ratio of 1.06 and a beta of 1.18.

Blue Owl Capital (NYSE:OWL) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Blue Owl Capital had a net margin of 3.84% and a return on equity of 18.15%. The company had revenue of $486.55 million during the quarter, compared to analyst estimates of $478.47 million. On average, analysts forecast that Blue Owl Capital will post 0.81 earnings per share for the current fiscal year.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, May 21st were issued a $0.18 dividend. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Monday, May 20th. Blue Owl Capital’s dividend payout ratio (DPR) is currently 600.00%.

Institutional Trading of Blue Owl Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Comerica Bank purchased a new position in shares of Blue Owl Capital during the 3rd quarter valued at about $10,375,000. Vanguard Group Inc. raised its stake in Blue Owl Capital by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 40,199,339 shares of the company’s stock worth $520,983,000 after acquiring an additional 1,293,941 shares during the period. DNB Asset Management AS raised its stake in Blue Owl Capital by 13.3% during the 4th quarter. DNB Asset Management AS now owns 357,814 shares of the company’s stock worth $5,331,000 after acquiring an additional 41,870 shares during the period. Exchange Traded Concepts LLC purchased a new position in Blue Owl Capital during the fourth quarter valued at approximately $1,944,000. Finally, TrueMark Investments LLC bought a new position in shares of Blue Owl Capital in the fourth quarter worth approximately $1,287,000. Hedge funds and other institutional investors own 35.85% of the company’s stock.

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.