Ares Capital Co. (NASDAQ:ARCC) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its position in Ares Capital Co. (NASDAQ:ARCC) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 326,351 shares of the investment management company’s stock after acquiring an additional 3,757 shares during the quarter. Advisors Asset Management Inc.’s holdings in Ares Capital were worth $6,795,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Lewis Asset Management LLC grew its position in Ares Capital by 2.1% in the 1st quarter. Lewis Asset Management LLC now owns 24,805 shares of the investment management company’s stock valued at $516,000 after acquiring an additional 500 shares in the last quarter. Chapin Davis Inc. grew its position in Ares Capital by 2.2% in the 1st quarter. Chapin Davis Inc. now owns 22,966 shares of the investment management company’s stock valued at $478,000 after acquiring an additional 501 shares in the last quarter. Lincoln National Corp grew its position in Ares Capital by 3.0% in the 4th quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock valued at $354,000 after acquiring an additional 520 shares in the last quarter. Baron Financial Group LLC grew its position in Ares Capital by 3.0% in the 4th quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock valued at $368,000 after acquiring an additional 543 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its position in Ares Capital by 0.5% in the 4th quarter. Transcend Capital Advisors LLC now owns 108,577 shares of the investment management company’s stock valued at $2,175,000 after acquiring an additional 557 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Up 0.9 %

ARCC stock traded up $0.18 during trading on Friday, hitting $20.95. 2,150,837 shares of the company’s stock were exchanged, compared to its average volume of 3,414,021. The business has a 50-day moving average price of $21.07 and a two-hundred day moving average price of $20.64. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 7.11 and a beta of 1.01. Ares Capital Co. has a 52-week low of $18.55 and a 52-week high of $21.84. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. Ares Capital’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. As a group, equities research analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.16%. The ex-dividend date of this dividend was Friday, June 14th. Ares Capital’s dividend payout ratio is currently 65.75%.

Analyst Ratings Changes

A number of brokerages have recently commented on ARCC. Oppenheimer boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Truist Financial boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average price target of $21.50.

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.