JPMorgan Chase & Co. lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,268,547 shares of the investment management company's stock after acquiring an additional 881,450 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.64% of Ares Capital worth $93,439,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. SG Americas Securities LLC bought a new position in Ares Capital in the fourth quarter valued at approximately $519,000. Round Rock Advisors LLC bought a new position in shares of Ares Capital in the 4th quarter worth $1,512,000. Chicago Partners Investment Group LLC grew its stake in shares of Ares Capital by 5.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company's stock worth $11,208,000 after purchasing an additional 25,347 shares during the period. Franklin Resources Inc. increased its holdings in Ares Capital by 24.3% in the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company's stock valued at $13,900,000 after purchasing an additional 127,219 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Ares Capital by 4.7% in the fourth quarter. US Bancorp DE now owns 43,056 shares of the investment management company's stock valued at $942,000 after buying an additional 1,945 shares during the period. Institutional investors and hedge funds own 27.38% of the company's stock.
Ares Capital Stock Down 7.2 %
Shares of ARCC traded down $1.55 during midday trading on Friday, hitting $19.97. The stock had a trading volume of 17,636,866 shares, compared to its average volume of 3,829,365. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 8.15 and a beta of 0.77. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $23.84. The company has a 50 day simple moving average of $22.63 and a two-hundred day simple moving average of $22.03.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 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%. On average, analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.
Ares Capital Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.61%. The ex-dividend date of this dividend was Friday, March 14th. Ares Capital's dividend payout ratio (DPR) is currently 78.37%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Royal Bank of Canada upped their price target on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Keefe, Bruyette & Woods lifted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.94.
Read Our Latest Research Report on ARCC
About Ares Capital
(
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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