Sumitomo Mitsui Trust Group Inc. Sells 78,770 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Sumitomo Mitsui Trust Group Inc. lowered its position in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 612,613 shares of the company's stock after selling 78,770 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.16% of Blue Owl Capital worth $8,926,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Boston Partners bought a new position in shares of Blue Owl Capital during the 1st quarter worth approximately $15,010,000. LSV Asset Management lifted its position in shares of Blue Owl Capital by 10.4% during the 2nd quarter. LSV Asset Management now owns 4,492,981 shares of the company's stock worth $69,012,000 after buying an additional 423,934 shares during the period. Van ECK Associates Corp lifted its position in shares of Blue Owl Capital by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 7,472,128 shares of the company's stock worth $112,754,000 after buying an additional 347,155 shares during the period. Trinity Financial Advisors LLC lifted its position in shares of Blue Owl Capital by 32.3% during the 3rd quarter. Trinity Financial Advisors LLC now owns 883,274 shares of the company's stock worth $12,471,000 after buying an additional 215,742 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Blue Owl Capital during the 2nd quarter worth approximately $2,667,000. Institutional investors own 42.83% of the company's stock.

Analyst Upgrades and Downgrades

OBDC has been the subject of several analyst reports. Truist Financial cut their target price on Blue Owl Capital from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Raymond James cut Blue Owl Capital from an "outperform" rating to a "market perform" rating in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $17.00 price target on shares of Blue Owl Capital in a report on Monday, August 12th. Keefe, Bruyette & Woods lowered their target price on Blue Owl Capital from $16.00 to $15.50 and set a "market perform" rating for the company in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their target price on Blue Owl Capital from $14.00 to $14.50 and gave the company an "underweight" rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Blue Owl Capital currently has an average rating of "Moderate Buy" and a consensus target price of $16.07.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Edward H. Dalelio bought 2,500 shares of Blue Owl Capital stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $37,550.00. Following the completion of the acquisition, the director now owns 9,016 shares in the company, valued at approximately $135,420.32. The trade was a 38.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.12% of the company's stock.

Blue Owl Capital Trading Up 0.3 %

Shares of Blue Owl Capital stock traded up $0.04 during trading on Monday, reaching $14.92. 1,299,985 shares of the company were exchanged, compared to its average volume of 1,940,978. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. Blue Owl Capital Co. has a twelve month low of $13.98 and a twelve month high of $16.91. The business has a 50-day moving average price of $14.88 and a 200-day moving average price of $15.35. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 9.27 and a beta of 0.86.

Blue Owl Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Blue Owl Capital's previous quarterly dividend of $0.06. This represents a $1.48 annualized dividend and a yield of 9.92%. Blue Owl Capital's payout ratio is currently 91.93%.

Blue Owl Capital 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.