The Manufacturers Life Insurance Company Lowers Holdings in Blue Owl Capital Co. (NYSE:OBDC)

The Manufacturers Life Insurance Company lowered its stake in Blue Owl Capital Co. (NYSE:OBDC - Free Report) by 92.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,476 shares of the company's stock after selling 203,520 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Blue Owl Capital were worth $255,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. National Bank of Canada FI bought a new stake in shares of Blue Owl Capital during the 2nd quarter valued at $26,000. CWM LLC boosted its position in shares of Blue Owl Capital by 98.6% in the second quarter. CWM LLC now owns 2,079 shares of the company's stock worth $32,000 after purchasing an additional 1,032 shares during the period. Rothschild Investment LLC bought a new stake in shares of Blue Owl Capital during the 2nd quarter valued at $61,000. Zions Bancorporation N.A. bought a new position in Blue Owl Capital in the 2nd quarter worth $61,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Blue Owl Capital by 604.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company's stock worth $65,000 after acquiring an additional 3,580 shares during the period. Institutional investors own 42.83% of the company's stock.

Blue Owl Capital Stock Up 0.1 %

Blue Owl Capital stock traded up $0.02 during mid-day trading on Tuesday, reaching $15.11. 2,296,717 shares of the company were exchanged, compared to its average volume of 1,939,879. The business has a fifty day moving average of $15.07 and a 200 day moving average of $15.18. Blue Owl Capital Co. has a 12-month low of $13.98 and a 12-month high of $16.91. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $5.89 billion, a P/E ratio of 9.38 and a beta of 0.85.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. 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 9.80%. The ex-dividend date of this dividend is Tuesday, December 31st. Blue Owl Capital's payout ratio is currently 91.93%.

Analyst Ratings Changes

OBDC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $14.00 price objective (down previously from $15.50) on shares of Blue Owl Capital in a research report on Thursday, December 12th. Wells Fargo & Company raised their price target on Blue Owl Capital from $14.00 to $14.50 and gave the company an "underweight" rating in a report on Tuesday, October 29th. Compass Point raised Blue Owl Capital to a "strong-buy" rating in a report on Monday, August 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $17.00 target price on shares of Blue Owl Capital in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.86.

About Blue Owl Capital

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.