Boston Partners lifted its position in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 437,215 shares of the investment management company's stock after acquiring an additional 71,408 shares during the quarter. Boston Partners owned 0.07% of Ares Capital worth $9,575,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ARCC. Cyndeo Wealth Partners LLC increased its stake in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock valued at $419,000 after purchasing an additional 430 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Ares Capital by 0.9% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock valued at $1,230,000 after buying an additional 512 shares during the period. Western Financial Corp CA grew its position in shares of Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock valued at $578,000 after buying an additional 564 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company's stock worth $812,000 after acquiring an additional 567 shares during the period. Finally, Tyche Wealth Partners LLC lifted its holdings in Ares Capital by 3.6% in the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company's stock worth $360,000 after acquiring an additional 578 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.
Ares Capital Price Performance
Shares of ARCC stock traded up $0.26 during midday trading on Tuesday, reaching $22.31. 4,179,378 shares of the company were exchanged, compared to its average volume of 3,712,603. The company's 50 day moving average price is $22.85 and its two-hundred day moving average price is $21.94. The company has a market cap of $15.21 billion, a P/E ratio of 9.11 and a beta of 1.00. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84. 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 released its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share 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%. 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 company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 8.61%. The ex-dividend date is Friday, March 14th. Ares Capital's payout ratio is currently 78.37%.
Analyst Ratings Changes
ARCC has been the topic of several recent research reports. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Wells Fargo & Company cut their target price on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Royal Bank of Canada upped their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an "outperform" 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.94.
Read Our Latest Research Report on ARCC
Ares Capital Profile
(
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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