Ares Capital Co. (NASDAQ:ARCC) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 43.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,029 shares of the investment management company’s stock after purchasing an additional 10,858 shares during the period. Raymond James Trust N.A.’s holdings in Ares Capital were worth $754,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ARCC. O Shaughnessy Asset Management LLC increased its holdings in shares of Ares Capital by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 21,527 shares of the investment management company’s stock valued at $448,000 after purchasing an additional 695 shares in the last quarter. SVB Wealth LLC lifted its position in shares of Ares Capital by 16.7% during the 1st quarter. SVB Wealth LLC now owns 17,305 shares of the investment management company’s stock valued at $360,000 after acquiring an additional 2,473 shares during the period. Waverly Advisors LLC acquired a new stake in shares of Ares Capital during the 1st quarter valued at approximately $1,492,000. DCM Advisors LLC boosted its stake in shares of Ares Capital by 7.0% during the 1st quarter. DCM Advisors LLC now owns 23,390 shares of the investment management company’s stock worth $487,000 after acquiring an additional 1,524 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Ares Capital by 6.3% in the 1st quarter. Tidal Investments LLC now owns 54,206 shares of the investment management company’s stock worth $1,129,000 after acquiring an additional 3,206 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Ares Capital Stock Down 0.1 %

Shares of NASDAQ ARCC opened at $22.00 on Tuesday. The firm has a market cap of $14.21 billion, a P/E ratio of 8.46 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 1 year low of $19.32 and a 1 year high of $22.15. The firm’s 50 day moving average price is $21.25 and its 200 day moving average price is $21.05.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (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 analyst estimates of $770.45 million. During the same quarter last year, the business earned $0.59 EPS. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.73%. Ares Capital’s payout ratio is currently 73.85%.

About Ares Capital

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.