Integrated Advisors Network LLC bought a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 14,052 shares of the investment management company's stock, valued at approximately $308,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth about $519,000. Round Rock Advisors LLC acquired a new stake in shares of Ares Capital in the fourth quarter worth approximately $1,512,000. Chicago Partners Investment Group LLC boosted its position in shares of Ares Capital by 5.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company's stock worth $11,208,000 after acquiring an additional 25,347 shares during the last quarter. US Bancorp DE lifted 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 valued at $942,000 after buying an additional 1,945 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in Ares Capital during the fourth quarter valued at approximately $222,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on ARCC. Wells Fargo & Company reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada dropped their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 6th. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group dropped their price target on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ares Capital has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.
Check Out Our Latest Stock Analysis on Ares Capital
Ares Capital Stock Performance
Ares Capital stock traded up $0.06 during mid-day trading on Friday, reaching $22.05. The company's stock had a trading volume of 3,173,061 shares, compared to its average volume of 4,141,011. The firm has a market cap of $15.31 billion, a price-to-earnings ratio of 9.00 and a beta of 0.70. The business has a 50 day moving average price of $21.05 and a 200-day moving average price of $21.93. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a twelve month low of $18.26 and a twelve month high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. Sell-side analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.71%. The ex-dividend date is Friday, June 13th. Ares Capital's dividend payout ratio (DPR) is 93.66%.
About Ares Capital
(
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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