Confluence Investment Management LLC cut its stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,813,221 shares of the investment management company's stock after selling 23,352 shares during the period. Confluence Investment Management LLC owned about 0.59% of Ares Capital worth $83,471,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. JBR Co Financial Management Inc lifted its holdings in shares of Ares Capital by 1.5% during the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company's stock valued at $692,000 after buying an additional 500 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its stake in Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company's stock valued at $913,000 after acquiring an additional 531 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in Ares Capital by 3.9% in the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company's stock worth $301,000 after purchasing an additional 542 shares in the last quarter. Western Financial Corp CA lifted its position in shares of Ares Capital by 2.3% in the third quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company's stock worth $541,000 after buying an additional 579 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Ares Capital by 6.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company's stock worth $227,000 after acquiring an additional 629 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company's stock.
Ares Capital Stock Performance
Shares of ARCC traded up $0.32 during trading hours on Thursday, reaching $22.21. 5,355,797 shares of the company traded hands, compared to its average volume of 3,566,402. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.43. The stock has a market cap of $14.35 billion, a P/E ratio of 8.54 and a beta of 1.01. The stock's fifty day moving average is $21.71 and its 200 day moving average is $21.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. Equities research analysts anticipate that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.64%. The ex-dividend date was Friday, December 13th. Ares Capital's payout ratio is 73.85%.
Analysts Set New Price Targets
ARCC has been the subject of several analyst reports. B. Riley boosted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Wells Fargo & Company upgraded shares of Ares Capital from an "equal weight" rating to an "overweight" rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Ares Capital from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.29.
Get Our Latest Analysis on ARCC
About Ares Capital
(
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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