Successful Portfolios LLC Makes New $221,000 Investment in Ares Capital Co. (NASDAQ:ARCC)

Successful Portfolios LLC acquired a new stake in Ares Capital Co. (NASDAQ:ARCC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,111 shares of the investment management company’s stock, valued at approximately $221,000.

Several other large investors have also recently modified their holdings of ARCC. Van ECK Associates Corp boosted its stake in Ares Capital by 8.3% during the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock worth $272,107,000 after buying an additional 975,045 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after purchasing an additional 63,999 shares during the period. International Assets Investment Management LLC grew its holdings in Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after purchasing an additional 3,449,395 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ares Capital by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock valued at $70,926,000 after purchasing an additional 104,710 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in Ares Capital by 3.7% in the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after purchasing an additional 79,074 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ARCC. B. Riley upped their target price on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Finally, StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital Stock Up 0.8 %

NASDAQ:ARCC opened at $23.18 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.22. The company has a 50-day moving average of $21.94 and a 200 day moving average of $21.29. The firm has a market cap of $14.98 billion, a PE ratio of 8.92 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. Ares Capital’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. As a group, research analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.28%. Ares Capital’s dividend payout ratio is presently 73.85%.

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.