Massachusetts Financial Services Co. MA Trims Holdings in Blue Owl Capital Inc. (NYSE:OWL)

Massachusetts Financial Services Co. MA trimmed its position in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 64.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,760 shares of the company's stock after selling 652,254 shares during the period. Massachusetts Financial Services Co. MA's holdings in Blue Owl Capital were worth $6,907,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Stone Point Capital LLC bought a new position in shares of Blue Owl Capital in the second quarter worth approximately $112,749,000. Foster Victor Wealth Advisors LLC increased its holdings in shares of Blue Owl Capital by 12.3% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 705,176 shares of the company's stock worth $12,954,000 after buying an additional 77,253 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Blue Owl Capital by 32.6% during the 1st quarter. Janus Henderson Group PLC now owns 330,095 shares of the company's stock valued at $6,224,000 after buying an additional 81,222 shares in the last quarter. Comerica Bank raised its position in shares of Blue Owl Capital by 10.1% during the 1st quarter. Comerica Bank now owns 824,067 shares of the company's stock valued at $15,542,000 after buying an additional 75,802 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Blue Owl Capital by 41.8% during the 3rd quarter. Raymond James & Associates now owns 308,465 shares of the company's stock worth $5,972,000 after acquiring an additional 90,998 shares during the last quarter. 35.85% of the stock is currently owned by hedge funds and other institutional investors.

Blue Owl Capital Price Performance

NYSE:OWL traded up $0.15 during mid-day trading on Wednesday, reaching $24.51. 258,442 shares of the company's stock traded hands, compared to its average volume of 5,427,381. The company has a 50 day moving average price of $21.68 and a 200-day moving average price of $19.19. The firm has a market capitalization of $36.61 billion, a price-to-earnings ratio of 143.30, a PEG ratio of 1.63 and a beta of 1.14. Blue Owl Capital Inc. has a 12-month low of $13.01 and a 12-month high of $25.03.

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

Blue Owl Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, November 11th. This represents a $0.72 annualized dividend and a dividend yield of 2.94%. Blue Owl Capital's dividend payout ratio is 423.55%.

Analysts Set New Price Targets

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

Blue Owl Capital 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.