Significant Wealth Partners LLC Buys New Shares in Ares Capital Co. (NASDAQ:ARCC)

Significant Wealth Partners LLC purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,124 shares of the investment management company’s stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ARCC. Van ECK Associates Corp boosted its position in Ares Capital by 10.5% during the third quarter. Van ECK Associates Corp now owns 7,441,256 shares of the investment management company’s stock worth $144,881,000 after purchasing an additional 708,568 shares during the period. International Assets Investment Management LLC raised its holdings in Ares Capital by 1,865.8% in the 4th quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock valued at $844,260,000 after acquiring an additional 4,000,570 shares during the period. Advisors Capital Management LLC lifted its position in Ares Capital by 0.8% during the third quarter. Advisors Capital Management LLC now owns 3,043,209 shares of the investment management company’s stock worth $59,251,000 after acquiring an additional 23,276 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Ares Capital by 3.5% during the fourth quarter. Sound Income Strategies LLC now owns 1,954,786 shares of the investment management company’s stock worth $39,154,000 after purchasing an additional 66,878 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in Ares Capital by 4.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 1,378,882 shares of the investment management company’s stock worth $26,847,000 after purchasing an additional 59,808 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Trading Up 0.3 %

Shares of Ares Capital stock opened at $20.66 on Tuesday. The firm’s 50-day moving average price is $20.32 and its two-hundred day moving average price is $19.98. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 7.74 and a beta of 1.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12-month low of $17.53 and a 12-month high of $20.86.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The business had revenue of $707.00 million for the quarter, compared to analyst estimates of $669.78 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts forecast that Ares Capital Co. will post 2.35 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.29%. Ares Capital’s dividend payout ratio is currently 71.91%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARCC. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Wells Fargo & Company boosted their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, B. Riley cut shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Ares Capital presently has an average rating of “Hold” and a consensus price target of $20.80.

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.