Legal & General Group Plc raised its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,242,363 shares of the investment management company’s stock after purchasing an additional 131,430 shares during the quarter. Legal & General Group Plc owned 0.29% of Ares Capital worth $20,381,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its stake in shares of Ares Capital by 50.6% during the 2nd quarter. Sei Investments Co. now owns 69,980 shares of the investment management company’s stock valued at $1,146,000 after acquiring an additional 23,505 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Ares Capital by 370.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 310,010 shares of the investment management company’s stock valued at $5,078,000 after acquiring an additional 244,080 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of Ares Capital during the 2nd quarter valued at approximately $516,000. Advisors Asset Management Inc. grew its stake in shares of Ares Capital by 11.9% during the 2nd quarter. Advisors Asset Management Inc. now owns 694,562 shares of the investment management company’s stock valued at $11,377,000 after acquiring an additional 73,682 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Ares Capital by 5.9% during the 2nd quarter. SG Americas Securities LLC now owns 356,804 shares of the investment management company’s stock valued at $5,844,000 after acquiring an additional 19,994 shares during the period. Institutional investors and hedge funds own 43.70% of the company’s stock.
A number of research analysts recently issued reports on the company. CIBC assumed coverage on Ares Capital in a research note on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective for the company. BMO Capital Markets reissued a “hold” rating and issued a $15.00 price target on shares of Ares Capital in a report on Friday, August 25th. BidaskClub cut Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. National Securities reissued a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a report on Friday, November 3rd. Finally, Oppenheimer started coverage on Ares Capital in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $18.00.
Ares Capital Co. (ARCC) opened at $16.42 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Co. has a twelve month low of $15.48 and a twelve month high of $17.87. The company has a market capitalization of $6,999.83, a P/E ratio of 11.40, a P/E/G ratio of 3.97 and a beta of 0.63.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The company had revenue of $294.00 million for the quarter, compared to analysts’ expectations of $295.02 million. During the same period in the previous year, the firm earned $0.43 EPS. analysts anticipate that Ares Capital Co. will post 1.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.26%. Ares Capital’s dividend payout ratio (DPR) is 119.69%.
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Ares Capital Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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