Fred Alger Management LLC Purchases 11,663 Shares of Blue Owl Capital Inc. (NYSE:OWL)

Fred Alger Management LLC boosted its position in shares of Blue Owl Capital Inc. (NYSE:OWL) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 781,408 shares of the company’s stock after buying an additional 11,663 shares during the quarter. Fred Alger Management LLC owned approximately 0.05% of Blue Owl Capital worth $15,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OWL. ORG Wealth Partners LLC bought a new stake in shares of Blue Owl Capital in the 3rd quarter worth approximately $32,000. ORG Partners LLC purchased a new position in Blue Owl Capital during the 2nd quarter valued at $32,000. Family Firm Inc. bought a new position in Blue Owl Capital in the 2nd quarter worth $40,000. Rothschild Investment LLC purchased a new stake in shares of Blue Owl Capital in the 2nd quarter worth about $45,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Blue Owl Capital during the 2nd quarter valued at about $88,000. Hedge funds and other institutional investors own 35.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Blue Owl Capital from $18.50 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Evercore ISI increased their target price on Blue Owl Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Blue Owl Capital from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Oppenheimer increased their price objective on Blue Owl Capital from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, 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 report on Friday, November 15th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.31.

Blue Owl Capital Stock Performance

Shares of OWL stock opened at $23.73 on Friday. The company has a market capitalization of $35.44 billion, a price-to-earnings ratio of 139.60, a price-to-earnings-growth ratio of 1.59 and a beta of 1.14. Blue Owl Capital Inc. has a one year low of $13.01 and a one year high of $25.03. The company’s 50-day moving average is $22.02 and its 200 day moving average is $19.30.

Blue Owl Capital (NYSE:OWL) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.20 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $565.93 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, research analysts predict that Blue Owl Capital Inc. will post 0.78 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, November 11th. Blue Owl Capital’s payout ratio is 423.55%.

Blue Owl Capital Company 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.