Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 1,613.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 229,554 shares of the investment management company’s stock after buying an additional 216,154 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Ares Capital were worth $4,644,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. UBS Group AG raised its position in Ares Capital by 41.8% during the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after buying an additional 3,301,890 shares during the period. Bank of America Corp DE raised its position in Ares Capital by 8.9% during the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after buying an additional 705,882 shares during the period. Ameriprise Financial Inc. raised its position in Ares Capital by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 3,794,378 shares of the investment management company’s stock valued at $83,353,000 after buying an additional 225,984 shares during the period. Advisors Capital Management LLC raised its position in Ares Capital by 13.5% during the fourth quarter. Advisors Capital Management LLC now owns 3,566,790 shares of the investment management company’s stock valued at $72,156,000 after buying an additional 423,795 shares during the period. Finally, Raymond James Financial Inc. raised its position in Ares Capital by 7.5% during the third quarter. Raymond James Financial Inc. now owns 3,226,668 shares of the investment management company’s stock valued at $65,856,000 after buying an additional 225,028 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. UBS Group dropped their price target on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Oppenheimer dropped their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. B. Riley Financial dropped their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Truist Financial dropped their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Citizens Jmp dropped their price target on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.75.
Ares Capital Stock Performance
Shares of ARCC stock opened at $18.59 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.42. The stock’s 50-day moving average is $18.48 and its two-hundred day moving average is $19.49. The firm has a market cap of $13.35 billion, a P/E ratio of 11.40 and a beta of 0.58.
Ares Capital (NASDAQ:ARCC – Get Free Report) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.
Ares Capital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio is presently 117.79%.
Ares Capital Company Profile
Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.
Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.
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