Generali Asset Management SPA SGR Acquires Shares of 3,856,848 Ares Capital Co. (NASDAQ:ARCC)

Generali Asset Management SPA SGR purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,856,848 shares of the investment management company's stock, valued at approximately $84,426,000. Ares Capital accounts for about 2.2% of Generali Asset Management SPA SGR's investment portfolio, making the stock its 6th biggest position. Generali Asset Management SPA SGR owned about 0.57% of Ares Capital as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Atria Investments Inc lifted its holdings in shares of Ares Capital by 8.2% in the third quarter. Atria Investments Inc now owns 51,256 shares of the investment management company's stock valued at $1,073,000 after purchasing an additional 3,868 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Ares Capital by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company's stock worth $18,540,000 after buying an additional 38,559 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Ares Capital in the third quarter valued at about $241,000. Pathstone Holdings LLC grew its position in shares of Ares Capital by 6.6% in the third quarter. Pathstone Holdings LLC now owns 336,879 shares of the investment management company's stock valued at $7,054,000 after purchasing an additional 21,005 shares during the last quarter. Finally, BIP Wealth LLC grew its position in shares of Ares Capital by 76.7% in the third quarter. BIP Wealth LLC now owns 25,932 shares of the investment management company's stock valued at $543,000 after purchasing an additional 11,260 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

ARCC has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.94.

Ares Capital Stock Up 0.1 %

Ares Capital stock traded up $0.03 during midday trading on Friday, hitting $21.76. 6,475,668 shares of the stock were exchanged, compared to its average volume of 3,704,811. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 8.88 and a beta of 1.00. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84. The business's 50-day moving average price is $22.85 and its 200-day moving average price is $21.92.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced 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%. On average, research analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal 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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.82%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's dividend payout ratio is currently 78.37%.

About Ares Capital

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.