PNC Financial Services Group Inc. Reduces Holdings in Blue Owl Capital Co. (NYSE:OBDC)

PNC Financial Services Group Inc. cut its stake in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 92.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,028 shares of the company's stock after selling 58,719 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Blue Owl Capital were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Fifth Third Bancorp grew its position in Blue Owl Capital by 192.2% in the 4th quarter. Fifth Third Bancorp now owns 2,922 shares of the company's stock worth $44,000 after purchasing an additional 1,922 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Blue Owl Capital by 144.7% in the third quarter. National Bank of Canada FI now owns 4,160 shares of the company's stock valued at $61,000 after acquiring an additional 2,460 shares in the last quarter. Westend Capital Management LLC increased its position in shares of Blue Owl Capital by 58.8% during the fourth quarter. Westend Capital Management LLC now owns 4,816 shares of the company's stock valued at $73,000 after acquiring an additional 1,784 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Blue Owl Capital in the fourth quarter worth $77,000. Finally, Canton Hathaway LLC bought a new position in Blue Owl Capital in the 4th quarter valued at $84,000. Hedge funds and other institutional investors own 42.83% of the company's stock.

Insider Buying and Selling

In related news, Director Chris Temple acquired 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, for a total transaction of $222,000.00. Following the completion of the transaction, the director now owns 51,000 shares in the company, valued at approximately $754,800. This trade represents a 41.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.12% of the stock is currently owned by company insiders.

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Blue Owl Capital Price Performance

OBDC traded down $0.26 during trading on Friday, reaching $15.06. 1,253,022 shares of the company were exchanged, compared to its average volume of 2,336,270. Blue Owl Capital Co. has a 12-month low of $13.98 and a 12-month high of $16.91. The company's 50-day moving average is $15.05 and its two-hundred day moving average is $15.02. The company has a quick ratio of 1.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.25. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 9.84 and a beta of 0.85.

Blue Owl Capital (NYSE:OBDC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $394.39 million for the quarter, compared to the consensus estimate of $395.24 million. Blue Owl Capital had a net margin of 37.26% and a return on equity of 12.38%. Research analysts forecast that Blue Owl Capital Co. will post 1.71 earnings per share for the current fiscal year.

Blue Owl Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.05 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.20 annualized dividend and a dividend yield of 1.33%. Blue Owl Capital's payout ratio is currently 96.73%.

Wall Street Analysts Forecast Growth

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

Blue Owl Capital Company Profile

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.