NewEdge Wealth LLC Purchases 29,330 Shares of Ares Capital Co. (NASDAQ:ARCC)

NewEdge Wealth LLC lifted its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 38.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,355 shares of the investment management company's stock after purchasing an additional 29,330 shares during the period. NewEdge Wealth LLC's holdings in Ares Capital were worth $2,328,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ARCC. Whipplewood Advisors LLC bought a new stake in Ares Capital during the 4th quarter worth approximately $191,000. Siligmueller & Norvid Wealth Advisors LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth $223,000. Canton Hathaway LLC raised its position in shares of Ares Capital by 64.7% during the 4th quarter. Canton Hathaway LLC now owns 24,700 shares of the investment management company's stock valued at $541,000 after purchasing an additional 9,700 shares during the period. FourThought Financial Partners LLC boosted its holdings in Ares Capital by 1.7% in the 4th quarter. FourThought Financial Partners LLC now owns 84,533 shares of the investment management company's stock worth $1,850,000 after buying an additional 1,404 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Ares Capital by 9.3% in the 4th quarter. Bank of New York Mellon Corp now owns 139,214 shares of the investment management company's stock worth $3,047,000 after buying an additional 11,827 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price target on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given 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 has an average rating of "Moderate Buy" and an average price target of $22.94.

Ares Capital Price Performance

ARCC stock traded down $0.20 during trading on Tuesday, hitting $23.03. 4,154,776 shares of the company's stock traded hands, compared to its average volume of 4,292,049. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.84. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 9.40 and a beta of 1.01. The business has a fifty day simple moving average of $22.84 and a 200 day simple moving average of $21.83. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 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%. As a group, research analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.34%. The ex-dividend date is Friday, March 14th. Ares Capital's dividend payout ratio (DPR) is 78.37%.

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.