Prospera Financial Services Inc Has $331,000 Position in Ares Capital Co. (NASDAQ:ARCC)

Prospera Financial Services Inc cut its holdings in Ares Capital Co. (NASDAQ:ARCC) by 21.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,794 shares of the investment management company’s stock after selling 4,372 shares during the quarter. Prospera Financial Services Inc’s holdings in Ares Capital were worth $331,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Ares Capital by 2,104.7% in the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after buying an additional 3,449,395 shares during the period. Van ECK Associates Corp boosted its stake in Ares Capital by 20.2% in the 2nd quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock worth $243,434,000 after purchasing an additional 1,961,166 shares during the period. Cetera Investment Advisers raised its stake in shares of Ares Capital by 143.9% in the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock valued at $17,081,000 after purchasing an additional 484,088 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of Ares Capital in the 2nd quarter valued at about $9,815,000. Finally, Boston Partners bought a new stake in shares of Ares Capital in the first quarter valued at about $7,792,000. 27.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ARCC shares. B. Riley lifted their target price on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. JMP Securities boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Trading Up 1.1 %

Shares of NASDAQ:ARCC opened at $22.02 on Monday. The company has a 50-day simple moving average of $21.22 and a 200 day simple moving average of $21.04. The company has a market capitalization of $14.23 billion, a P/E ratio of 8.47 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $22.05.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. Sell-side analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.72%. Ares Capital’s dividend payout ratio is currently 73.85%.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.