Allspring Global Investments Holdings LLC Has $5.24 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Allspring Global Investments Holdings LLC raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 239,343 shares of the investment management company's stock after buying an additional 30,217 shares during the period. Allspring Global Investments Holdings LLC's holdings in Ares Capital were worth $5,239,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Horizon Financial Services LLC bought a new position in shares of Ares Capital during the 3rd quarter valued at about $28,000. Blue Trust Inc. boosted its stake in Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock valued at $52,000 after acquiring an additional 909 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Ares Capital by 200.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company's stock valued at $66,000 after acquiring an additional 2,000 shares in the last quarter. Quarry LP acquired a new stake in shares of Ares Capital during the third quarter worth $67,000. Finally, Centennial Bank AR acquired a new stake in shares of Ares Capital during the third quarter worth $102,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Trading Down 0.6 %

ARCC traded down $0.13 during midday trading on Friday, hitting $23.27. The company's stock had a trading volume of 2,251,417 shares, compared to its average volume of 4,364,049. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84. The firm has a market cap of $15.62 billion, a P/E ratio of 9.50 and a beta of 1.01. The firm has a 50-day moving average price of $22.58 and a two-hundred day moving average price of $21.67.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, research analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.25%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's payout ratio is currently 78.37%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARCC. StockNews.com downgraded shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Royal Bank of Canada upped their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.94.

Ares Capital 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.