Boston Partners Has $10.82 Million Position in Ares Capital Corporation $ARCC

Key Points

• Boston Partners increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 11.7%, acquiring an additional 51,271 shares, bringing its total to 488,486 shares valued at approximately $10.82 million.
• Several institutional investors have also substantially increased their positions in Ares Capital, with HighTower Advisors and Two Sigma Investments raising their stakes by 87.2% and 81.0% respectively during the first and fourth quarters.
• Ares Capital announced a quarterly dividend of $0.48 per share, which equates to an annualized yield of 8.6%, set to be paid on September 30th to shareholders of record.

Boston Partners grew its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 488,486 shares of the investment management company's stock after purchasing an additional 51,271 shares during the quarter. Boston Partners owned about 0.07% of Ares Capital worth $10,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCC. Barclays PLC raised its holdings in shares of Ares Capital by 60.9% during the 4th quarter. Barclays PLC now owns 200,721 shares of the investment management company's stock valued at $4,394,000 after purchasing an additional 75,993 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Ares Capital by 27.3% during the 4th quarter. Guggenheim Capital LLC now owns 31,663 shares of the investment management company's stock valued at $693,000 after purchasing an additional 6,791 shares in the last quarter. United Capital Financial Advisors LLC raised its holdings in shares of Ares Capital by 43.8% during the 4th quarter. United Capital Financial Advisors LLC now owns 16,404 shares of the investment management company's stock valued at $359,000 after purchasing an additional 5,000 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Ares Capital by 27.4% during the 4th quarter. NewEdge Advisors LLC now owns 104,705 shares of the investment management company's stock valued at $2,292,000 after purchasing an additional 22,510 shares in the last quarter. Finally, Commerce Bank raised its holdings in shares of Ares Capital by 57.4% during the 4th quarter. Commerce Bank now owns 49,348 shares of the investment management company's stock valued at $1,080,000 after purchasing an additional 18,000 shares in the last quarter. Institutional investors own 27.38% of the company's stock.

Ares Capital Stock Performance

NASDAQ ARCC traded down $0.1160 during midday trading on Wednesday, hitting $22.2740. The company had a trading volume of 2,806,816 shares, compared to its average volume of 4,505,616. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 10.86 and a beta of 0.70. The firm has a fifty day simple moving average of $22.37 and a two-hundred day simple moving average of $21.98. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The company had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. Equities analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Monday, September 15th. Ares Capital's payout ratio is 93.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. UBS Group lifted their target price on shares of Ares Capital from $22.00 to $22.50 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their target price on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a report on Saturday. Finally, JMP Securities set a $23.00 target price on shares of Ares Capital and gave the stock a "market outperform" rating in a report on Thursday, July 31st. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.86.

Ares Capital 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.