Naviter Wealth LLC Has $14.77 Million Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Naviter Wealth LLC decreased its holdings in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 674,715 shares of the investment management company's stock after selling 126,832 shares during the quarter. Ares Capital accounts for approximately 1.8% of Naviter Wealth LLC's holdings, making the stock its 12th biggest holding. Naviter Wealth LLC owned 0.10% of Ares Capital worth $14,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Ares Capital in the fourth quarter worth about $519,000. Round Rock Advisors LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at approximately $1,512,000. Chicago Partners Investment Group LLC raised its holdings in shares of Ares Capital by 5.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company's stock worth $11,208,000 after buying an additional 25,347 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Ares Capital by 24.3% during the 3rd quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company's stock worth $13,900,000 after buying an additional 127,219 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Ares Capital by 4.6% during the 3rd 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 period. 27.38% of the stock is owned by institutional investors.

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Ares Capital Trading Down 0.5 %

ARCC stock traded down $0.11 during trading on Wednesday, hitting $21.75. The company had a trading volume of 6,101,641 shares, compared to its average volume of 3,682,319. The firm has a 50-day moving average price of $22.92 and a 200-day moving average price of $21.90. 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 stock has a market cap of $14.60 billion, a price-to-earnings ratio of 8.88 and a beta of 1.00.

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 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%. As a group, analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 8.83%. Ares Capital's payout ratio is presently 78.37%.

Wall Street Analyst Weigh In

ARCC has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective 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. Finally, Wells Fargo & Company reduced their target price on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ares Capital currently has an average rating of "Moderate Buy" and a consensus price target of $22.94.

Ares Capital 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.