Advisors Asset Management Inc. Purchases 31,485 Shares of Ares Capital Co. (NASDAQ:ARCC)

Advisors Asset Management Inc. increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 353,718 shares of the investment management company's stock after buying an additional 31,485 shares during the quarter. Advisors Asset Management Inc. owned 0.05% of Ares Capital worth $7,407,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jamison Private Wealth Management Inc. raised its holdings in Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company's stock valued at $26,000 after acquiring an additional 475 shares during the period. Capital Investment Advisors LLC increased its stake in Ares Capital by 1.6% in the second quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company's stock valued at $681,000 after acquiring an additional 499 shares during the last quarter. JBR Co Financial Management Inc increased its stake in Ares Capital by 1.5% in the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company's stock valued at $692,000 after acquiring an additional 500 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its stake in Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company's stock valued at $913,000 after acquiring an additional 531 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its position in Ares Capital by 3.9% in the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company's stock valued at $301,000 after buying an additional 542 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Price Performance

Shares of NASDAQ:ARCC traded up $0.04 during trading on Thursday, reaching $21.83. The company had a trading volume of 803,289 shares, compared to its average volume of 3,382,690. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.05. The stock has a market capitalization of $14.10 billion, a P/E ratio of 8.38 and a beta of 1.01. The company has a fifty day moving average of $21.16 and a two-hundred day moving average of $21.02. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm had revenue of $755.00 million for the quarter, compared to analysts' expectations of $770.45 million. During the same period in the previous year, the company earned $0.59 EPS. The company's quarterly revenue was up 15.3% on a year-over-year basis. Equities research analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.80%. Ares Capital's payout ratio is 73.85%.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of research analyst reports. UBS Group upgraded shares of Ares Capital to a "hold" rating in a research report on Friday, August 23rd. StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. B. Riley boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, JMP Securities boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.86.

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.