Naviter Wealth LLC Has $19.50 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Naviter Wealth LLC increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 21.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 973,272 shares of the investment management company's stock after purchasing an additional 174,989 shares during the period. Ares Capital accounts for about 3.9% of Naviter Wealth LLC's holdings, making the stock its 3rd biggest position. Naviter Wealth LLC owned about 0.17% of Ares Capital worth $19,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of ARCC. Choreo LLC boosted its position in Ares Capital by 26.1% during the 4th quarter. Choreo LLC now owns 12,916 shares of the investment management company's stock worth $259,000 after purchasing an additional 2,671 shares during the period. Gilbert & Cook Inc. raised its stake in shares of Ares Capital by 6.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company's stock valued at $27,737,000 after purchasing an additional 85,561 shares in the last quarter. Intellectus Partners LLC raised its stake in shares of Ares Capital by 61.5% in the 4th quarter. Intellectus Partners LLC now owns 36,827 shares of the investment management company's stock valued at $738,000 after purchasing an additional 14,020 shares in the last quarter. Sargent Investment Group LLC grew its position in shares of Ares Capital by 4.3% during the 4th quarter. Sargent Investment Group LLC now owns 274,975 shares of the investment management company's stock valued at $5,508,000 after buying an additional 11,440 shares during the last quarter. Finally, Bruni J V & Co. Co. grew its position in shares of Ares Capital by 0.4% during the 4th quarter. Bruni J V & Co. Co. now owns 1,398,203 shares of the investment management company's stock valued at $28,006,000 after buying an additional 6,001 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

NASDAQ:ARCC traded up $0.03 during midday trading on Monday, reaching $20.81. The stock had a trading volume of 2,765,223 shares, compared to its average volume of 3,537,504. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24. Ares Capital Co. has a 1-year low of $17.53 and a 1-year high of $20.94. The firm's fifty day simple moving average is $20.36 and its 200-day simple moving average is $20.02. The stock has a market capitalization of $12.63 billion, a P/E ratio of 7.78 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. The company had revenue of $707.00 million during 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 firm's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. On average, equities research analysts forecast that Ares Capital Co. will post 2.35 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.23%. The ex-dividend date of this dividend was Thursday, March 14th. Ares Capital's payout ratio is presently 71.91%.

Wall Street Analyst Weigh In

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

Ares Capital Company 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.