Legal & General Group Plc Raises Position in Ares Capital Corporation (ARCC)

Legal & General Group Plc raised its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 40.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 994,357 shares of the investment management company’s stock after buying an additional 287,931 shares during the period. Legal & General Group Plc’s holdings in Ares Capital Corporation were worth $17,287,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Verity Asset Management Inc. acquired a new position in shares of Ares Capital Corporation during the first quarter valued at about $684,000. PNC Financial Services Group Inc. raised its position in shares of Ares Capital Corporation by 16.4% in the first quarter. PNC Financial Services Group Inc. now owns 59,220 shares of the investment management company’s stock valued at $1,029,000 after buying an additional 8,354 shares during the last quarter. Relative Value Partners Group LLC raised its position in shares of Ares Capital Corporation by 1.4% in the first quarter. Relative Value Partners Group LLC now owns 165,668 shares of the investment management company’s stock valued at $2,868,000 after buying an additional 2,238 shares during the last quarter. Stephens Inc. AR raised its position in shares of Ares Capital Corporation by 10.6% in the first quarter. Stephens Inc. AR now owns 176,901 shares of the investment management company’s stock valued at $3,075,000 after buying an additional 17,007 shares during the last quarter. Finally, Partnervest Advisory Services LLC raised its position in shares of Ares Capital Corporation by 89.2% in the first quarter. Partnervest Advisory Services LLC now owns 97,897 shares of the investment management company’s stock valued at $1,701,000 after buying an additional 46,164 shares during the last quarter. 48.53% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

Ares Capital Corporation (NASDAQ ARCC) traded down 0.2448% during midday trading on Tuesday, hitting $16.2601. 591,842 shares of the stock traded hands. Ares Capital Corporation has a one year low of $13.85 and a one year high of $17.87. The company has a 50-day moving average price of $16.64 and a 200 day moving average price of $16.99.

Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 3rd. The investment management company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.04. The company had revenue of $275 million during the quarter, compared to analysts’ expectations of $294.92 million. Ares Capital Corporation had a net margin of 44.29% and a return on equity of 9.32%. During the same period last year, the business earned $0.42 earnings per share. On average, equities analysts expect that Ares Capital Corporation will post $1.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date is Tuesday, June 13th. Ares Capital Corporation’s dividend payout ratio (DPR) is 110.95%.

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Several brokerages recently issued reports on ARCC. TheStreet lowered shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a report on Wednesday, June 14th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $18.50 price objective on shares of Ares Capital Corporation in a report on Friday. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Ares Capital Corporation in a report on Thursday, June 1st. Janney Montgomery Scott reissued a “neutral” rating on shares of Ares Capital Corporation in a report on Monday, May 15th. Finally, National Securities raised shares of Ares Capital Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $18.00 to $19.00 in a report on Monday, May 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $17.94.

About Ares Capital Corporation

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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