Heritage Trust Co Makes New $442,000 Investment in Ares Capital Co. (NASDAQ:ARCC)

Heritage Trust Co acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,185 shares of the investment management company's stock, valued at approximately $442,000.

A number of other hedge funds have also recently added to or reduced their stakes in ARCC. Quantinno Capital Management LP increased its position in shares of Ares Capital by 10.6% during the 3rd quarter. Quantinno Capital Management LP now owns 11,291 shares of the investment management company's stock valued at $236,000 after purchasing an additional 1,083 shares during the period. XTX Topco Ltd bought a new position in Ares Capital in the 3rd quarter worth approximately $576,000. MML Investors Services LLC lifted its position in shares of Ares Capital by 10.9% in the 3rd quarter. MML Investors Services LLC now owns 73,741 shares of the investment management company's stock worth $1,544,000 after acquiring an additional 7,236 shares during the period. Sculati Wealth Management LLC lifted its stake in Ares Capital by 1.0% during the third quarter. Sculati Wealth Management LLC now owns 115,744 shares of the investment management company's stock worth $2,410,000 after purchasing an additional 1,149 shares during the period. Finally, Sanctuary Advisors LLC increased its position in shares of Ares Capital by 9.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 178,153 shares of the investment management company's stock worth $3,923,000 after purchasing an additional 15,650 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Trading Up 1.2 %

Shares of ARCC stock traded up $0.24 during trading hours on Wednesday, hitting $20.41. 1,181,170 shares of the company were exchanged, compared to its average volume of 4,016,950. The firm has a fifty day moving average of $22.00 and a 200 day moving average of $21.96. The firm has a market cap of $13.97 billion, a PE ratio of 8.33 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its 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 return on equity of 11.54% and a net margin of 50.90%. 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.41%. Ares Capital's payout ratio is 78.37%.

Analyst Ratings Changes

ARCC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada raised their price objective on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company decreased their price objective on Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One research 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.81.

Ares Capital Company Profile

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.