Geneos Wealth Management Inc. raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC – Free Report) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 51,475 shares of the investment management company’s stock after purchasing an additional 970 shares during the period. Geneos Wealth Management Inc.’s holdings in Ares Capital were worth $1,127,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARCC. International Assets Investment Management LLC lifted 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 purchasing an additional 3,449,395 shares in the last quarter. Van ECK Associates Corp lifted its stake in Ares Capital by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after acquiring an additional 975,045 shares in the last quarter. CCLA Investment Management lifted its stake in Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock valued at $48,419,000 after acquiring an additional 531,305 shares in the last quarter. Partners Group Holding AG grew its stake in shares of Ares Capital by 21.2% in the 3rd quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock worth $37,428,000 after acquiring an additional 312,255 shares in the last quarter. Finally, Financial Management Network Inc. purchased a new stake in shares of Ares Capital in the third quarter valued at about $4,018,000. 27.38% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently weighed in on ARCC shares. Wells Fargo & Company upgraded shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, B. Riley lifted their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.29.
Ares Capital Stock Performance
Shares of ARCC opened at $23.30 on Tuesday. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.53. The stock’s 50-day simple moving average is $22.15 and its 200 day simple moving average is $21.39. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 8.96 and a beta of 1.00.
Ares Capital (NASDAQ:ARCC – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. Ares Capital’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. Research analysts forecast that Ares Capital Co. will post 2.36 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.24%. 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.
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