HighTower Advisors LLC grew its position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 48.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,400,539 shares of the investment management company's stock after purchasing an additional 458,360 shares during the quarter. HighTower Advisors LLC owned about 0.22% of Ares Capital worth $30,658,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC raised its holdings in Ares Capital by 2.3% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after purchasing an additional 430 shares during the last quarter. Sheaff Brock Investment Advisors LLC increased its stake 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 acquiring an additional 512 shares in the last quarter. Western Financial Corp CA increased its stake in shares of Ares Capital by 2.2% in the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock valued at $578,000 after acquiring an additional 564 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in shares of Ares Capital by 1.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company's stock valued at $812,000 after acquiring an additional 567 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in shares of Ares Capital by 3.6% in the 4th quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company's stock valued at $360,000 after acquiring an additional 578 shares in the last quarter. Institutional investors own 27.38% of the company's stock.
Ares Capital Stock Down 0.3 %
ARCC traded down $0.07 during mid-day trading on Wednesday, reaching $21.75. 3,754,535 shares of the stock were exchanged, compared to its average volume of 3,692,581. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $14.82 billion, a PE ratio of 8.88 and a beta of 1.00. The company has a 50 day moving average price of $22.87 and a two-hundred day moving average price of $21.92. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (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%. As a group, research analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.
Ares Capital Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 8.83%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital's dividend payout ratio is 78.37%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on ARCC shares. Wells Fargo & Company lowered their price objective 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. StockNews.com lowered shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. 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 research note on Monday, February 3rd. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Finally, Keefe, Bruyette & Woods boosted their price target 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ares Capital has an average rating of "Moderate Buy" and an average price target of $22.94.
Check Out Our Latest Stock Analysis on Ares Capital
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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