Bank of New York Mellon Corp Has $3.05 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Bank of New York Mellon Corp increased its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,214 shares of the investment management company's stock after purchasing an additional 11,827 shares during the period. Bank of New York Mellon Corp's holdings in Ares Capital were worth $3,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ARCC. Van ECK Associates Corp lifted its position in Ares Capital by 11.8% during the 4th 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 in the last quarter. JPMorgan Chase & Co. lifted its position in Ares Capital by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company's stock worth $70,926,000 after buying an additional 104,710 shares in the last quarter. Sound Income Strategies LLC lifted its position in Ares Capital by 4.4% during 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 buying an additional 96,992 shares in the last quarter. CCLA Investment Management lifted its position in Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock worth $48,419,000 after buying an additional 531,305 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in Ares Capital by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 2,187,083 shares of the investment management company's stock worth $45,798,000 after buying an additional 47,036 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

ARCC has been the topic of several analyst reports. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada upped their target price on shares of Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, February 7th. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company dropped their target price on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.94.

Ares Capital Stock Performance

Ares Capital stock traded up $0.03 during trading hours on Friday, hitting $21.76. The company had a trading volume of 6,475,668 shares, compared to its average volume of 3,710,565. The firm has a market cap of $14.83 billion, a PE ratio of 8.88 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The firm has a 50-day moving average of $22.85 and a 200 day moving average of $21.92.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share 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, sell-side analysts expect that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued 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 8.82%. Ares Capital's dividend payout ratio is currently 78.37%.

Ares Capital Company 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.