Cerity Partners LLC Sells 8,565 Shares of Blue Owl Capital Co. (NYSE:OBDC)

Cerity Partners LLC decreased its holdings in shares of Blue Owl Capital Co. (NYSE:OBDC) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 336,202 shares of the company’s stock after selling 8,565 shares during the quarter. Cerity Partners LLC’s holdings in Blue Owl Capital were worth $4,936,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners bought a new stake in shares of Blue Owl Capital in the first quarter valued at approximately $15,010,000. Icon Wealth Advisors LLC boosted its holdings in Blue Owl Capital by 3,524.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 579,799 shares of the company’s stock valued at $8,448,000 after purchasing an additional 563,800 shares during the period. LSV Asset Management grew its position in Blue Owl Capital by 10.4% in the 2nd quarter. LSV Asset Management now owns 4,492,981 shares of the company’s stock worth $69,012,000 after purchasing an additional 423,934 shares during the last quarter. Van ECK Associates Corp increased its holdings 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 purchasing an additional 347,155 shares during the period. Finally, Trinity Financial Advisors LLC lifted its stake in shares of Blue Owl Capital by 32.3% in the third quarter. Trinity Financial Advisors LLC now owns 883,274 shares of the company’s stock valued at $12,471,000 after buying an additional 215,742 shares during the period. Institutional investors and hedge funds own 42.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OBDC shares. Truist Financial cut their price target on Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wells Fargo & Company raised their target price on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Raymond James lowered shares of 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 objective on shares of Blue Owl Capital in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating on the stock in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Blue Owl Capital has an average rating of “Moderate Buy” and an average target price of $16.07.

Blue Owl Capital Trading Up 0.1 %

Shares of OBDC stock opened at $15.15 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $5.91 billion, a P/E ratio of 9.41 and a beta of 0.86. Blue Owl Capital Co. has a 12-month low of $13.98 and a 12-month high of $16.91. The firm has a 50-day moving average price of $14.94 and a 200 day moving average price of $15.30.

Blue Owl Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. This represents a $1.48 annualized dividend and a dividend yield of 9.77%. The ex-dividend date is Tuesday, December 31st. Blue Owl Capital’s payout ratio is presently 91.93%.

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.