abrdn plc raised its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 210.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,282 shares of the investment management company's stock after purchasing an additional 82,271 shares during the quarter. abrdn plc's holdings in Ares Capital were worth $2,662,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. Horizon Financial Services LLC purchased a new stake in Ares Capital in the 3rd quarter valued at $28,000. Blue Trust Inc. grew its stake in shares of Ares Capital by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after acquiring an additional 909 shares in the last quarter. Quarry LP purchased a new stake in shares of Ares Capital in the third quarter valued at about $67,000. Centennial Bank AR bought a new position in shares of Ares Capital during the third quarter valued at about $102,000. Finally, Avior Wealth Management LLC boosted its holdings in Ares Capital by 19.6% during the fourth quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company's stock worth $107,000 after purchasing an additional 803 shares during the last quarter. Institutional investors own 27.38% of the company's stock.
Ares Capital Price Performance
Shares of NASDAQ:ARCC traded up $0.17 during trading on Thursday, reaching $23.08. The company had a trading volume of 2,946,135 shares, compared to its average volume of 4,552,546. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84. The company has a current ratio of 1.21, a quick ratio of 1.29 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $15.50 billion, a P/E ratio of 9.42 and a beta of 1.01. The company has a fifty day moving average of $22.46 and a two-hundred day moving average of $21.58.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. Equities research analysts forecast that Ares Capital Co. will post 2.2 earnings per share for the current year.
Ares Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.32%. The ex-dividend date is Friday, March 14th. Ares Capital's payout ratio is presently 78.37%.
Analysts Set New Price Targets
Several research firms have commented on ARCC. Keefe, Bruyette & Woods lifted their target price 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. B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Raymond James lowered Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Royal Bank of Canada upped their price objective 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. Finally, StockNews.com downgraded shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.94.
Check Out Our Latest Stock Report on ARCC
Ares Capital Company Profile
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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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