LGT Capital Partners LTD. lowered its position in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 26.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,000 shares of the investment management company's stock after selling 178,575 shares during the quarter. LGT Capital Partners LTD. owned approximately 0.08% of Ares Capital worth $11,098,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Cyndeo Wealth Partners LLC lifted its stake in shares of Ares Capital by 2.3% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after acquiring an additional 430 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Ares Capital by 0.9% during the fourth 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 during the last quarter. Western Financial Corp CA increased its position in Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock worth $578,000 after purchasing an additional 564 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in 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 purchasing an additional 567 shares in the last quarter. Finally, Tyche Wealth Partners LLC boosted its stake in shares of Ares Capital by 3.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company's stock worth $360,000 after purchasing an additional 578 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital Stock Down 1.4 %
Shares of Ares Capital stock traded down $0.31 on Thursday, hitting $21.44. 5,295,021 shares of the company traded hands, compared to its average volume of 3,685,935. The company has a market cap of $14.40 billion, a PE ratio of 8.75 and a beta of 1.00. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84. 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 company has a 50-day moving average price of $22.91 and a 200 day moving average price of $21.89.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Sell-side analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.
Ares Capital Announces Dividend
The business also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.96%. Ares Capital's dividend payout ratio (DPR) is currently 78.37%.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on ARCC shares. Keefe, Bruyette & Woods boosted their price target on Ares Capital from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. StockNews.com lowered Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Wells Fargo & Company decreased their price target on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Raymond James downgraded shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada upped their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.94.
Check Out Our Latest Report on ARCC
Ares Capital Company 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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