Strategic Financial Concepts LLC Purchases New Position in Ares Capital Co. (NASDAQ:ARCC)

Strategic Financial Concepts LLC purchased a new stake in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 104,567 shares of the investment management company's stock, valued at approximately $2,289,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Horizon Financial Services LLC acquired a new position in shares of Ares Capital during the third quarter valued at $28,000. Blue Trust Inc. lifted its holdings in Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company's stock worth $52,000 after purchasing an additional 909 shares during the period. Quarry LP acquired a new stake in Ares Capital in the third quarter worth about $67,000. Centennial Bank AR acquired a new stake in Ares Capital in the third quarter worth about $102,000. Finally, Avior Wealth Management LLC lifted its holdings in Ares Capital by 19.6% in the fourth quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company's stock worth $107,000 after purchasing an additional 803 shares during the period. Institutional investors and hedge funds own 27.38% of the company's stock.

Ares Capital Trading Up 0.8 %

NASDAQ ARCC traded up $0.19 on Friday, hitting $23.27. 3,785,709 shares of the company were exchanged, compared to its average volume of 4,527,037. The company's 50 day moving average price is $22.48 and its 200-day moving average price is $21.60. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.29. The firm has a market capitalization of $15.63 billion, a P/E ratio of 9.50 and a beta of 1.01. Ares Capital Co. has a twelve month low of $19.32 and a twelve month 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 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%. Analysts predict that Ares Capital Co. will post 2.2 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

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 paid 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 8.25%. Ares Capital's dividend payout ratio (DPR) is presently 78.37%.

Analysts Set New Price Targets

Several equities research analysts have commented on ARCC shares. Royal Bank of Canada boosted their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a research report 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 stock an "overweight" rating in a research report on Monday, February 3rd. Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. Finally, B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.94.

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.