Rollins Financial Advisors LLC lifted its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,301 shares of the investment management company's stock after purchasing an additional 40,280 shares during the quarter. Rollins Financial Advisors LLC's holdings in Ares Capital were worth $2,743,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Asset Management SPA SGR purchased a new stake in Ares Capital in the fourth quarter valued at $84,426,000. Raymond James Financial Inc. purchased a new stake in shares of Ares Capital in the fourth quarter worth about $58,159,000. Van ECK Associates Corp boosted its stake in shares of Ares Capital by 11.8% in the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock worth $309,649,000 after buying an additional 1,489,552 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock worth $93,439,000 after acquiring an additional 881,450 shares during the period. Finally, CCLA Investment Management raised its position in Ares Capital by 31.6% during the fourth quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock valued at $48,419,000 after acquiring an additional 531,305 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on ARCC. Royal Bank of Canada raised their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. upped their price objective 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. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.81.
Get Our Latest Stock Analysis on ARCC
Ares Capital Price Performance
Shares of ARCC traded down $0.11 during mid-day trading on Friday, hitting $19.73. 4,160,110 shares of the company were exchanged, compared to its average volume of 3,989,580. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 8.01 and a beta of 0.77. Ares Capital Co. has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a 50 day moving average of $22.19 and a 200-day moving average of $21.98. 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 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%. Analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.48 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.73%. Ares Capital's payout ratio is currently 78.37%.
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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