CCLA Investment Management grew its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 31.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,211,955 shares of the investment management company's stock after buying an additional 531,305 shares during the period. CCLA Investment Management owned 0.34% of Ares Capital worth $48,419,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of Ares Capital by 24.3% during the 3rd quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company's stock valued at $13,900,000 after purchasing an additional 127,219 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Ares Capital by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company's stock valued at $18,540,000 after buying an additional 38,559 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock worth $80,338,000 after buying an additional 63,999 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Ares Capital by 25.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company's stock worth $4,651,000 after buying an additional 44,548 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its stake in shares of Ares Capital by 32.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company's stock valued at $4,435,000 after acquiring an additional 52,007 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.
Ares Capital Stock Up 1.0 %
Shares of ARCC traded up $0.23 on Wednesday, reaching $22.66. The company's stock had a trading volume of 4,080,422 shares, compared to its average volume of 4,005,892. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $22.68. The stock has a market capitalization of $14.64 billion, a PE ratio of 8.72 and a beta of 1.00. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average of $21.85 and a 200-day moving average of $21.25.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The company had revenue of $755.00 million during the quarter, compared to analysts' expectations of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. Equities analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.
Ares Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 8.47%. The ex-dividend date was Friday, December 13th. Ares Capital's dividend payout ratio (DPR) is presently 73.85%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ARCC. B. Riley increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company upgraded Ares Capital from an "equal weight" rating to an "overweight" rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ares Capital currently has a consensus rating of "Moderate Buy" and an average target price of $22.29.
View Our Latest 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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