Commerce Bank Sells 3,603 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Commerce Bank cut its position in Blue Owl Capital Inc. (NYSE:OWL) by 2.1% in the third quarter, HoldingsChannel.com reports. The firm owned 172,057 shares of the company’s stock after selling 3,603 shares during the period. Commerce Bank’s holdings in Blue Owl Capital were worth $3,331,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of OWL. Stone Point Capital LLC purchased a new stake in Blue Owl Capital during the second quarter valued at approximately $112,749,000. Kinetic Partners Management LP purchased a new stake in shares of Blue Owl Capital during the 1st quarter valued at $69,600,000. State of New Jersey Common Pension Fund A acquired a new stake in shares of Blue Owl Capital in the 2nd quarter worth $63,115,000. Ceredex Value Advisors LLC purchased a new position in Blue Owl Capital during the 2nd quarter worth $32,387,000. Finally, Point72 Asset Management L.P. increased its position in Blue Owl Capital by 69.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,114,660 shares of the company’s stock valued at $73,035,000 after buying an additional 1,683,408 shares in the last quarter. 35.85% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Up 0.9 %

Blue Owl Capital stock opened at $24.55 on Friday. Blue Owl Capital Inc. has a 52 week low of $13.01 and a 52 week high of $24.70. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 144.42, a price-to-earnings-growth ratio of 1.57 and a beta of 1.14. The business’s 50-day moving average price is $21.55 and its 200 day moving average price is $19.14.

Blue Owl Capital (NYSE:OWL) last posted its earnings results on Thursday, October 31st. The company reported $0.20 earnings per share for the quarter, meeting the consensus estimate of $0.20. Blue Owl Capital had a net margin of 4.95% and a return on equity of 19.98%. The firm had revenue of $600.88 million during the quarter, compared to analyst estimates of $565.93 million. During the same period in the previous year, the firm earned $0.16 EPS. Equities analysts expect that Blue Owl Capital Inc. will post 0.78 EPS for the current year.

Blue Owl Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Monday, November 11th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Monday, November 11th. Blue Owl Capital’s payout ratio is currently 423.55%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Piper Sandler raised their price target on Blue Owl Capital from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their target price 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. Oppenheimer raised their price target on shares of Blue Owl Capital from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. JMP Securities lifted their price objective on shares of Blue Owl Capital from $25.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Friday, November 15th. Finally, Evercore ISI upped their target price on Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.31.

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.