TCG Advisory Services LLC Has $542,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

TCG Advisory Services LLC lifted its stake in Ares Capital Co. (NASDAQ:ARCC) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,067 shares of the investment management company’s stock after acquiring an additional 1,194 shares during the quarter. TCG Advisory Services LLC’s holdings in Ares Capital were worth $542,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ARCC. Cape Investment Advisory Inc. increased its holdings in Ares Capital by 411.0% during the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after buying an additional 1,570 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 931 shares during the period. Activest Wealth Management lifted its stake in Ares Capital by 137.2% in the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after purchasing an additional 1,239 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC grew its holdings in Ares Capital by 59.3% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,351 shares of the investment management company’s stock worth $47,000 after purchasing an additional 875 shares during the period. Finally, CVA Family Office LLC acquired a new position in Ares Capital during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of ARCC traded up $0.07 during mid-day trading on Friday, hitting $20.61. 2,902,245 shares of the company’s stock were exchanged, compared to its average volume of 2,632,858. The firm has a market cap of $12.53 billion, a price-to-earnings ratio of 7.06 and a beta of 0.99. Ares Capital Co. has a 52 week low of $17.53 and a 52 week high of $21.00. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The stock’s 50-day simple moving average is $20.42 and its 200-day simple moving average is $20.07.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. On average, equities research analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.32%. Ares Capital’s dividend payout ratio is 65.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ARCC shares. Wells Fargo & Company lifted their target price on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial raised their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday. B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Monday, January 8th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a research report on Tuesday, March 26th. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $21.43.

Ares Capital 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.