Focus Financial Network Inc. Has $3.81 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Focus Financial Network Inc. raised its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 20.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 173,988 shares of the investment management company's stock after buying an additional 29,509 shares during the quarter. Focus Financial Network Inc.'s holdings in Ares Capital were worth $3,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its holdings in Ares Capital by 8.3% in the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company's stock valued at $272,107,000 after buying an additional 975,045 shares during the last quarter. Confluence Investment Management LLC lifted its position in shares of Ares Capital by 1.7% in the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock worth $80,338,000 after acquiring an additional 63,999 shares during the period. International Assets Investment Management LLC lifted its position in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company's stock worth $756,620,000 after acquiring an additional 3,449,395 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Ares Capital by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company's stock worth $70,926,000 after acquiring an additional 104,710 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Ares Capital by 4.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company's stock worth $50,659,000 after acquiring an additional 96,992 shares during the period. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Price Performance

Shares of Ares Capital stock traded up $0.19 during midday trading on Friday, hitting $23.27. 3,785,709 shares of the company were exchanged, compared to its average volume of 4,527,037. The firm has a 50 day simple moving average of $22.48 and a 200-day simple moving average of $21.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.29. 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 $15.63 billion, a P/E ratio of 9.50 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Research analysts forecast that Ares Capital Co. will post 2.2 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.25%. Ares Capital's payout ratio is 78.37%.

Analysts Set New Price Targets

A number of analysts have commented on ARCC shares. Keefe, Bruyette & Woods raised their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Raymond James downgraded Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. B. Riley raised their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.94.

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.