Pinion Investment Advisors LLC lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 125.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,618 shares of the investment management company's stock after buying an additional 38,779 shares during the period. Pinion Investment Advisors LLC's holdings in Ares Capital were worth $1,543,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of ARCC. Montag & Caldwell LLC bought a new stake in shares of Ares Capital in the fourth quarter worth $33,000. VSM Wealth Advisory LLC bought a new stake in shares of Ares Capital in the fourth quarter worth $35,000. Promus Capital LLC bought a new stake in shares of Ares Capital in the fourth quarter worth $48,000. SRS Capital Advisors Inc. bought a new stake in shares of Ares Capital in the fourth quarter worth $60,000. Finally, Montag A & Associates Inc. grew its stake in shares of Ares Capital by 92.6% in the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock worth $63,000 after purchasing an additional 1,389 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
ARCC has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. 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 report on Tuesday, May 6th. UBS Group dropped their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.00.
Get Our Latest Stock Report on Ares Capital
Ares Capital Stock Down 3.4%
NASDAQ ARCC traded down $0.75 during trading on Friday, reaching $21.53. 4,992,011 shares of the company's stock traded hands, compared to its average volume of 4,154,846. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 8.79 and a beta of 0.68. The company's 50 day simple moving average is $21.20 and its two-hundred day simple moving average is $21.95. Ares Capital Co. has a 12-month low of $18.26 and a 12-month high of $23.84.
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). The business had revenue of $599.00 million for the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. The business's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, sell-side analysts forecast that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.48 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.92%. Ares Capital's payout ratio is currently 93.66%.
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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