Royal Bank of Canada lowered its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,090,665 shares of the investment management company's stock after selling 248,040 shares during the quarter. Royal Bank of Canada owned 0.61% of Ares Capital worth $89,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of ARCC. Montag & Caldwell LLC purchased a new position in shares of Ares Capital in the fourth quarter worth $33,000. VSM Wealth Advisory LLC purchased a new position in shares of Ares Capital in the fourth quarter worth $35,000. Promus Capital LLC purchased a new position 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 holdings 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 acquiring an additional 1,389 shares during the period. Hedge funds and other institutional investors own 27.38% of the company's stock.
Ares Capital Stock Performance
NASDAQ ARCC opened at $21.91 on Tuesday. The firm has a market cap of $15.11 billion, a price-to-earnings ratio of 8.94 and a beta of 0.70. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $21.04 and a 200-day moving average price of $21.91. 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 posted 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). The firm had revenue of $599.00 million during the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. Ares Capital's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. As a group, equities research analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.76%. Ares Capital's dividend payout ratio (DPR) is presently 93.66%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ARCC. Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. 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. Wells Fargo & Company cut their price objective on Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, UBS Group cut 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.
Check Out Our Latest Stock Analysis on ARCC
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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