Savant Capital LLC reduced its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 31.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,476 shares of the investment management company's stock after selling 51,819 shares during the period. Savant Capital LLC's holdings in Ares Capital were worth $2,233,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Baron Financial Group LLC grew its stake in 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 worth $368,000 after acquiring an additional 543 shares during the period. Syntal Capital Partners LLC grew its stake in Ares Capital by 3.3% in 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 period. Transcend Capital Advisors LLC grew its stake in Ares Capital by 0.5% in the 4th quarter. Transcend Capital Advisors LLC now owns 108,577 shares of the investment management company's stock worth $2,175,000 after acquiring an additional 557 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 acquiring an additional 587 shares during the period. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Ares Capital by 4.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,067 shares of the investment management company's stock valued at $274,000 after buying an additional 597 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, January 29th. JMP Securities reissued a "market outperform" rating and set a $21.00 price objective on shares of Ares Capital in a research note on Tuesday, March 26th. Oppenheimer lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday. Truist Financial lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ares Capital from $21.50 to $22.00 and gave the company an "overweight" rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Ares Capital has an average rating of "Moderate Buy" and an average target price of $21.43.
Check Out Our Latest Stock Report on Ares Capital
Ares Capital Stock Up 0.3 %
ARCC stock traded up $0.07 during trading on Friday, reaching $20.61. The stock had a trading volume of 2,898,814 shares, compared to its average volume of 3,531,473. Ares Capital Co. has a 1-year low of $17.53 and a 1-year high of $21.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $12.51 billion, a P/E ratio of 7.06 and a beta of 0.99. The firm has a fifty day moving average price of $20.41 and a 200 day moving average price of $20.06.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Ares Capital had a return on equity of 12.68% and a net margin of 62.77%. The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The business's quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities analysts anticipate that Ares Capital Co. will post 2.35 earnings per share for the current year.
Ares Capital Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. Ares Capital's dividend payout ratio (DPR) is presently 65.75%.
Ares Capital 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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