NewEdge Wealth LLC Purchases New Holdings in Ares Capital Co. (NASDAQ:ARCC)

NewEdge Wealth LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 74,730 shares of the investment management company's stock, valued at approximately $1,497,000.

Other large investors have also added to or reduced their stakes in the company. Baron Financial Group LLC grew its stake in shares of Ares Capital by 3.0% in the 4th quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company's stock valued at $368,000 after buying an additional 543 shares during the period. Syntal Capital Partners LLC boosted its holdings in Ares Capital by 3.3% during the 3rd quarter. Syntal Capital Partners LLC now owns 17,346 shares of the investment management company's stock worth $338,000 after acquiring an additional 551 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Ares Capital by 1.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,595 shares of the investment management company's stock worth $693,000 after purchasing an additional 587 shares in the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Ares Capital by 4.4% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,067 shares of the investment management company's stock worth $274,000 after buying an additional 597 shares during the last quarter. Finally, Advisory Services Network LLC increased its holdings in Ares Capital by 1.1% during the first quarter. Advisory Services Network LLC now owns 54,276 shares of the investment management company's stock worth $992,000 after buying an additional 607 shares during the last quarter. Institutional investors own 27.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARCC. Wells Fargo & Company increased their target price on Ares Capital from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Monday, January 29th. B. Riley cut Ares Capital from a "buy" rating to a "neutral" rating and set a $21.00 target price on the stock. in a research note on Monday, January 8th. Finally, JMP Securities restated a "market outperform" rating and issued a $21.00 target price on shares of Ares Capital in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.80.

Ares Capital Stock Down 0.2 %

Shares of Ares Capital stock traded down $0.04 on Monday, reaching $20.24. The company's stock had a trading volume of 2,728,024 shares, compared to its average volume of 3,692,094. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $12.28 billion, a price-to-earnings ratio of 7.60 and a beta of 1.00. The firm's fifty day simple moving average is $20.28 and its two-hundred day simple moving average is $19.92. Ares Capital Co. has a 52 week low of $17.53 and a 52 week high of $20.86.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $707.00 million for the quarter, compared to the consensus estimate of $669.78 million. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. Equities analysts anticipate that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.49%. Ares Capital's payout ratio is currently 71.91%.

About Ares Capital

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.