Albion Financial Group UT cut its stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 30.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,080 shares of the investment management company's stock after selling 27,830 shares during the period. Albion Financial Group UT's holdings in Ares Capital were worth $1,442,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Ares Capital by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 139,214 shares of the investment management company's stock worth $3,047,000 after acquiring an additional 11,827 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of Ares Capital by 21.6% during the 4th quarter. Kovack Advisors Inc. now owns 13,641 shares of the investment management company's stock worth $299,000 after purchasing an additional 2,423 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Ares Capital during the 4th quarter valued at approximately $2,872,000. SVB Wealth LLC purchased a new stake in Ares Capital in the fourth quarter worth $230,000. Finally, US Bancorp DE boosted its position in Ares Capital by 4.7% during the fourth quarter. US Bancorp DE now owns 43,056 shares of the investment management company's stock worth $942,000 after purchasing an additional 1,945 shares during the period. Institutional investors own 27.38% of the company's stock.
Ares Capital Price Performance
Shares of ARCC stock traded up $0.09 on Tuesday, reaching $22.05. 4,019,317 shares of the company were exchanged, compared to its average volume of 4,197,789. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The business has a 50-day moving average price of $21.52 and a 200 day moving average price of $21.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 10.76 and a beta of 0.68.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. During the same quarter last year, the company earned $0.59 earnings per share. Ares Capital's quarterly revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.71%. The ex-dividend date was Friday, June 13th. Ares Capital's dividend payout ratio is presently 93.66%.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price objective on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. UBS Group decreased their price objective on Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. decreased their target price on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an "overweight" rating in a report on Friday. Finally, Royal Bank Of Canada dropped their target price on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and an average target price of $22.00.
Read Our Latest Report on ARCC
Ares Capital Company Profile
(
Free Report)
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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