State of New Jersey Common Pension Fund E Takes $335.81 Million Position in Blue Owl Capital Co. (NYSE:OBDC)

State of New Jersey Common Pension Fund E acquired a new stake in shares of Blue Owl Capital Co. (NYSE:OBDC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 22,751,338 shares of the company’s stock, valued at approximately $335,810,000. Blue Owl Capital comprises 81.0% of State of New Jersey Common Pension Fund E’s holdings, making the stock its biggest holding. State of New Jersey Common Pension Fund E owned about 5.84% of Blue Owl Capital at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in OBDC. Regents of The University of California bought a new stake in shares of Blue Owl Capital in the fourth quarter worth $258,421,000. Sound Income Strategies LLC bought a new stake in shares of Blue Owl Capital in the fourth quarter worth $36,311,000. Strs Ohio bought a new stake in shares of Blue Owl Capital in the fourth quarter worth $32,449,000. Border to Coast Pensions Partnership Ltd bought a new stake in shares of Blue Owl Capital in the fourth quarter worth $30,477,000. Finally, Next Capital Management LLC bought a new stake in shares of Blue Owl Capital in the fourth quarter worth $25,009,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Insiders Place Their Bets

In other Blue Owl Capital news, Director Edward H. Dalelio bought 3,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average cost of $15.07 per share, for a total transaction of $45,210.00. Following the transaction, the director now directly owns 6,217 shares of the company’s stock, valued at $93,690.19. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.12% of the stock is owned by insiders.

Blue Owl Capital Stock Up 1.1 %

Blue Owl Capital stock traded up $0.18 during mid-day trading on Friday, reaching $15.93. 1,545,470 shares of the company were exchanged, compared to its average volume of 1,996,646. Blue Owl Capital Co. has a 12-month low of $12.20 and a 12-month high of $15.95. The business has a fifty day moving average of $15.30 and a 200 day moving average of $14.79. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $6.21 billion, a P/E ratio of 7.82 and a beta of 0.91.

Blue Owl Capital (NYSE:OBDC) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $411.23 million during the quarter, compared to analyst estimates of $397.42 million. Blue Owl Capital had a return on equity of 12.62% and a net margin of 50.14%. Research analysts anticipate that Blue Owl Capital Co. will post 1.9 earnings per share for the current fiscal year.

Blue Owl Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, February 29th. Blue Owl Capital’s dividend payout ratio is currently 68.97%.

Wall Street Analyst Weigh In

OBDC has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Blue Owl Capital from $13.00 to $14.50 and gave the company an “underweight” rating in a report on Monday, January 29th. B. Riley downgraded Blue Owl Capital from a “buy” rating to a “neutral” rating and set a $15.50 target price on the stock. in a research report on Monday, January 8th. Finally, JMP Securities restated a “market outperform” rating and set a $16.00 price objective on shares of Blue Owl Capital in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Blue Owl Capital has an average rating of “Hold” and an average price target of $15.50.

Blue Owl Capital Profile

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.