Kestra Private Wealth Services LLC Has $2.21 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Kestra Private Wealth Services LLC raised its position in Ares Capital Co. (NASDAQ:ARCC) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,043 shares of the investment management company’s stock after buying an additional 2,573 shares during the period. Kestra Private Wealth Services LLC’s holdings in Ares Capital were worth $2,212,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Horizon Financial Services LLC bought a new stake in Ares Capital during the 3rd quarter worth about $28,000. Blue Trust Inc. lifted its position in shares of Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after purchasing an additional 909 shares in the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of Ares Capital by 200.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock valued at $66,000 after purchasing an additional 2,000 shares during the last quarter. Quarry LP acquired a new stake in shares of Ares Capital in the third quarter valued at approximately $67,000. Finally, Centennial Bank AR bought a new position in Ares Capital in the 3rd quarter worth approximately $102,000. 27.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ARCC. JPMorgan Chase & Co. increased their price objective on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. B. Riley boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada boosted their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.94.

Ares Capital Stock Down 0.7 %

Shares of NASDAQ:ARCC opened at $22.70 on Wednesday. The company has a 50 day moving average price of $22.43 and a two-hundred day moving average price of $21.56. The company has a market capitalization of $15.24 billion, a PE ratio of 9.27 and a beta of 1.01. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.29 and a current ratio of 1.21.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Analysts forecast that Ares Capital Co. will post 2.2 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.46%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

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.