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

Principal Financial Group Inc. reduced its stake in Blue Owl Capital Inc. (NYSE:OWL - Free Report) by 89.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,157 shares of the company's stock after selling 363,675 shares during the quarter. 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. FMR LLC raised its stake in shares of Blue Owl Capital by 29.9% in the third quarter. FMR LLC now owns 35,324,089 shares of the company's stock worth $683,874,000 after purchasing an additional 8,138,475 shares during the last quarter. State Street Corp increased its position in shares of Blue Owl Capital by 5.6% in the third quarter. State Street Corp now owns 8,452,073 shares of the company's stock valued at $163,632,000 after buying an additional 449,066 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Blue Owl Capital by 14.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,152,157 shares of the company's stock worth $157,870,000 after buying an additional 1,016,505 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Blue Owl Capital by 4.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 6,736,287 shares of the company's stock valued at $130,415,000 after buying an additional 293,221 shares in the last quarter. Finally, Stone Point Capital LLC acquired a new stake in Blue Owl Capital in the 2nd quarter valued at $112,749,000. Hedge funds and other institutional investors own 35.85% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on OWL. JMP Securities reissued a "market outperform" rating and set a $27.00 target price on shares of Blue Owl Capital in a research note on Wednesday, December 4th. Piper Sandler raised their price target on shares of Blue Owl Capital from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, December 23rd. Wells Fargo & Company upped their price objective on shares of Blue Owl Capital from $23.00 to $25.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. UBS Group increased their price objective on shares of Blue Owl Capital from $20.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Finally, Evercore ISI boosted their target price on Blue Owl Capital from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.73.

Blue Owl Capital Stock Performance

Shares of NYSE OWL traded up $0.44 during mid-day trading on Friday, reaching $24.03. 4,588,089 shares of the company's stock were exchanged, compared to its average volume of 4,025,995. The firm has a market capitalization of $35.89 billion, a price-to-earnings ratio of 141.36, a PEG ratio of 1.66 and a beta of 1.14. Blue Owl Capital Inc. has a 52-week low of $14.42 and a 52-week high of $25.03. The company's 50-day moving average is $23.40 and its 200-day moving average is $20.32.

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

Blue Owl Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.00%. The ex-dividend date was Monday, November 11th. Blue Owl Capital's payout ratio is 423.53%.

About Blue Owl Capital

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.