IFP Advisors Inc trimmed its stake in Ares Capital Corporation (NASDAQ:ARCC) by 50.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,601 shares of the investment management company’s stock after selling 42,370 shares during the quarter. IFP Advisors Inc’s holdings in Ares Capital Corporation were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD increased its holdings in Ares Capital Corporation by 8.1% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 655,426 shares of the investment management company’s stock worth $10,742,000 after buying an additional 49,299 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Ares Capital Corporation by 8.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 165,239 shares of the investment management company’s stock valued at $2,708,000 after purchasing an additional 12,574 shares during the last quarter. IFC Holdings Incorporated FL acquired a new position in Ares Capital Corporation during the third quarter valued at approximately $677,000. State of New Jersey Common Pension Fund D grew its holdings in Ares Capital Corporation by 12.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 3,600,000 shares of the investment management company’s stock valued at $59,004,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Ares Capital Corporation by 1.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,970,937 shares of the investment management company’s stock valued at $97,864,000 after purchasing an additional 93,695 shares during the last quarter. Hedge funds and other institutional investors own 44.76% of the company’s stock.
Several equities analysts have commented on the company. Zacks Investment Research downgraded Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Monday, November 6th. National Securities restated a “buy” rating and issued a $19.00 price objective on shares of Ares Capital Corporation in a research note on Friday, November 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $19.50 target price on shares of Ares Capital Corporation in a research report on Friday, November 3rd. Keefe, Bruyette & Woods set a $19.00 target price on Ares Capital Corporation and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, CIBC assumed coverage on Ares Capital Corporation in a research report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $18.06.
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In other Ares Capital Corporation news, Director Michael J. Arougheti acquired 8,365 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $15.85 per share, for a total transaction of $132,585.25. Following the acquisition, the director now directly owns 937,054 shares of the company’s stock, valued at approximately $14,852,305.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 8,965 shares of company stock worth $142,283 in the last quarter. 0.45% of the stock is currently owned by company insiders.
Shares of Ares Capital Corporation (ARCC) opened at $16.13 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6,906.05, a PE ratio of 11.25, a P/E/G ratio of 3.91 and a beta of 0.63. Ares Capital Corporation has a 12-month low of $15.38 and a 12-month high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $294.00 million during the quarter, compared to analyst estimates of $295.02 million. Ares Capital Corporation had a return on equity of 8.60% and a net margin of 45.78%. During the same period in the previous year, the company earned $0.43 EPS. analysts anticipate that Ares Capital Corporation will post 1.38 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.42%. Ares Capital Corporation’s payout ratio is currently 119.69%.
Ares Capital Corporation Company 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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