Ares Capital Co. (NASDAQ:ARCC) Stock Position Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 566,519 shares of the investment management company's stock after selling 28,972 shares during the quarter. Corient Private Wealth LLC owned approximately 0.08% of Ares Capital worth $11,536,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Financial Services LLC acquired a new stake in Ares Capital during the third quarter worth about $28,000. Promus Capital LLC acquired a new stake in Ares Capital during the fourth quarter worth about $48,000. SRS Capital Advisors Inc. acquired a new stake in Ares Capital during the fourth quarter worth about $60,000. Montag A & Associates Inc. increased its stake in Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock worth $63,000 after acquiring an additional 1,389 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. increased its stake in Ares Capital by 200.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company's stock worth $66,000 after acquiring an additional 2,000 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Up 0.1 %

ARCC traded up $0.03 on Friday, reaching $21.76. The company's stock had a trading volume of 6,475,668 shares, compared to its average volume of 3,710,565. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of 8.88 and a beta of 1.00. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84. 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 business's 50 day moving average is $22.85 and its 200 day moving average is $21.92.

Remove Ads

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued 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 forecast that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's dividend payout ratio is presently 78.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their price target on Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their target price on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a research note on Monday, February 3rd. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.94.

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.