Larson Financial Group LLC Sells 3,658 Shares of Ares Capital Co. (NASDAQ:ARCC)

Larson Financial Group LLC lowered its position in Ares Capital Co. (NASDAQ:ARCC) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 80,725 shares of the investment management company’s stock after selling 3,658 shares during the period. Larson Financial Group LLC’s holdings in Ares Capital were worth $1,681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nemes Rush Group LLC bought a new position in Ares Capital in the fourth quarter worth approximately $25,000. Valley National Advisers Inc. boosted its holdings in Ares Capital by 323.3% in the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after acquiring an additional 1,096 shares in the last quarter. Pingora Partners LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth approximately $30,000. First Horizon Advisors Inc. raised its stake in shares of Ares Capital by 93.9% in the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock worth $38,000 after purchasing an additional 931 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Ares Capital by 218.7% in the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after purchasing an additional 1,345 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

NASDAQ ARCC traded up $0.09 on Wednesday, hitting $21.15. 1,872,623 shares of the stock traded hands, compared to its average volume of 3,496,081. The business’s fifty day moving average is $21.07 and its two-hundred day moving average is $20.58. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 7.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data 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). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. During the same period last year, the company posted $0.56 earnings per share. Ares Capital’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.08%. The ex-dividend date was Friday, June 14th. Ares Capital’s payout ratio is currently 65.75%.

Analyst Upgrades and Downgrades

ARCC has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Thursday, May 23rd. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a research note on Tuesday, March 26th. Truist Financial increased their price objective on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price target on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.