Generali Investments CEE investicni spolecnost a.s. Takes Position in Ares Capital Corporation (NASDAQ:ARCC)

Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 168,049 shares of the investment management company's stock, valued at approximately $3,724,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARCC. Generali Asset Management SPA SGR bought a new stake in shares of Ares Capital during the 4th quarter valued at $84,426,000. Raymond James Financial Inc. bought a new stake in shares of Ares Capital during the fourth quarter valued at about $58,159,000. Two Sigma Investments LP increased its position in shares of Ares Capital by 81.0% during the fourth quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company's stock valued at $58,633,000 after buying an additional 1,198,580 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after buying an additional 881,450 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Ares Capital by 12.3% during the fourth quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock valued at $174,068,000 after buying an additional 871,370 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

ARCC traded down $0.08 during trading on Monday, reaching $22.33. The stock had a trading volume of 3,103,248 shares, compared to its average volume of 4,208,312. The stock has a market cap of $15.50 billion, a PE ratio of 10.89 and a beta of 0.67. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The business has a 50-day moving average of $21.66 and a 200-day moving average of $21.95.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The firm had revenue of $599.00 million for the quarter, compared to the consensus estimate of $769.32 million. During the same quarter last year, the company posted $0.59 earnings per share. Ares Capital's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date was Friday, June 13th. Ares Capital's payout ratio is currently 93.66%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ARCC shares. B. Riley raised shares of Ares Capital to a "hold" rating in a report on Monday, June 16th. Wells Fargo & Company upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. JPMorgan Chase & Co. decreased their price target 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. Keefe, Bruyette & Woods decreased their target price on Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank Of Canada decreased their target price on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.00.

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.