PNC Financial Services Group Inc. Increases Stake in Blue Owl Capital Inc. (NYSE:OWL)

PNC Financial Services Group Inc. grew its position in Blue Owl Capital Inc. (NYSE:OWL) by 0.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 95,623 shares of the company’s stock after purchasing an additional 575 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Blue Owl Capital were worth $1,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OWL. Stone Point Capital LLC bought a new stake in shares of Blue Owl Capital during the second quarter valued at approximately $112,749,000. Foster Victor Wealth Advisors LLC boosted its stake in Blue Owl Capital by 12.3% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 705,176 shares of the company’s stock valued at $12,954,000 after purchasing an additional 77,253 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Blue Owl Capital by 32.6% in the 1st quarter. Janus Henderson Group PLC now owns 330,095 shares of the company’s stock worth $6,224,000 after purchasing an additional 81,222 shares in the last quarter. Comerica Bank raised its stake in shares of Blue Owl Capital by 10.1% in the first quarter. Comerica Bank now owns 824,067 shares of the company’s stock worth $15,542,000 after purchasing an additional 75,802 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Blue Owl Capital by 41.8% during the third quarter. Raymond James & Associates now owns 308,465 shares of the company’s stock valued at $5,972,000 after purchasing an additional 90,998 shares in the last quarter. Institutional investors own 35.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OWL. UBS Group lifted their price objective on Blue Owl Capital from $20.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their price objective on shares of Blue Owl Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised 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 report on Wednesday, October 9th. JMP Securities boosted their target price on shares of Blue Owl Capital from $25.00 to $27.00 and gave the company a “market outperform” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Blue Owl Capital from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.31.

Blue Owl Capital Price Performance

OWL opened at $24.36 on Wednesday. The firm has a market cap of $36.38 billion, a P/E ratio of 143.30, a PEG ratio of 1.64 and a beta of 1.14. Blue Owl Capital Inc. has a 1-year low of $13.01 and a 1-year high of $25.03. The company has a 50 day simple moving average of $21.68 and a two-hundred day simple moving average of $19.19.

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

Blue Owl Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a $0.18 dividend. The ex-dividend date was Monday, November 11th. This represents a $0.72 annualized dividend and a yield of 2.96%. Blue Owl Capital’s payout ratio is 423.55%.

Blue Owl Capital 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.