Principal Financial Group Inc. Decreases Stake in Blue Owl Capital Inc. (NYSE:OWL)

Principal Financial Group Inc. trimmed its position in shares of Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 89.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,157 shares of the company's stock after selling 363,675 shares during the period. Principal Financial Group Inc.'s holdings in Blue Owl Capital were worth $836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G PLC purchased a new stake in Blue Owl Capital in the 3rd quarter valued at about $14,720,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Blue Owl Capital in the third quarter valued at approximately $1,001,000. Catalyst Capital Advisors LLC bought a new position in Blue Owl Capital in the third quarter worth approximately $839,000. QRG Capital Management Inc. purchased a new position in Blue Owl Capital during the 3rd quarter worth $271,000. Finally, Cortland Associates Inc. MO raised its holdings in Blue Owl Capital by 30.3% in the third quarter. Cortland Associates Inc. MO now owns 2,038,244 shares of the company's stock worth $39,460,000 after purchasing an additional 473,608 shares in the last quarter. 35.85% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Price Performance

OWL stock traded up $0.22 during trading on Friday, hitting $24.55. 4,516,312 shares of the company traded hands, compared to its average volume of 7,224,087. Blue Owl Capital Inc. has a 1 year low of $13.01 and a 1 year high of $24.70. The stock's 50-day simple moving average is $21.55 and its 200 day simple moving average is $19.15. The company has a market cap of $36.67 billion, a PE ratio of 144.41, a P/E/G ratio of 1.63 and a beta of 1.14.

Blue Owl Capital (NYSE:OWL - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.20 earnings per share for the quarter, hitting 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 business had revenue of $600.88 million during the quarter, compared to the consensus estimate of $565.93 million. During the same period in the prior year, the company posted $0.16 EPS. Research analysts expect that Blue Owl Capital Inc. will post 0.78 earnings per share for the current year.

Blue Owl Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.93%. The ex-dividend date was Monday, November 11th. Blue Owl Capital's payout ratio is 423.53%.

Analysts Set New Price Targets

OWL has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blue Owl Capital from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, November 1st. JMP Securities increased their price objective on Blue Owl Capital from $25.00 to $27.00 and gave the company a "market outperform" rating in a report on Friday, November 15th. Piper Sandler boosted their target price on Blue Owl Capital from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, UBS Group raised their target price on Blue Owl Capital from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.31.

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.