Ares Management LLC increased its holdings in Ares Capital Co. (NASDAQ:ARCC) by 10.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,450,249 shares of the investment management company’s stock after buying an additional 142,685 shares during the period. Ares Capital accounts for approximately 1.0% of Ares Management LLC’s portfolio, making the stock its 9th largest holding. Ares Management LLC’s holdings in Ares Capital were worth $28,410,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in shares of Ares Capital by 92.4% during the 2nd quarter. Van ECK Associates Corp now owns 3,681,525 shares of the investment management company’s stock worth $72,121,000 after acquiring an additional 1,768,073 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Ares Capital during the first quarter valued at about $21,198,000. Nuveen Asset Management LLC increased its position in shares of Ares Capital by 32.7% during the 1st quarter. Nuveen Asset Management LLC now owns 867,741 shares of the investment management company’s stock valued at $16,235,000 after purchasing an additional 213,811 shares during the last quarter. Sierra Capital LLC purchased a new stake in Ares Capital in the first quarter worth approximately $2,896,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Ares Capital during the first quarter valued at approximately $2,816,000. 29.42% of the stock is owned by institutional investors.
A number of equities analysts recently commented on ARCC shares. Royal Bank of Canada lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Raymond James increased their target price on Ares Capital from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, August 2nd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $20.00.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 27th. The investment management company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.43 by $0.10. Ares Capital had a return on equity of 10.87% and a net margin of 101.77%. The business had revenue of $459.00 million during the quarter, compared to analyst estimates of $385.97 million. On average, analysts expect that Ares Capital Co. will post 1.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Wednesday, September 15th were given a dividend of $0.41 per share. This is a boost from Ares Capital’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date was Tuesday, September 14th. Ares Capital’s dividend payout ratio (DPR) is 94.25%.
Ares Capital Company Profile
Ares Capital Corp is a closed-end non-diversified management investment company. The fund targets companies operating in the fields of Health Care Services, Software & Services, Consumer Durables & Apparel, Energy, Food & Beverage, and Retail. It provides financing for buyouts, acquisitions, recapitalizations, restructurings, rescue financing, growth capital and general refinancing.
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