QTR Family Wealth LLC purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 45,948 shares of the investment management company’s stock, valued at approximately $917,000.
A number of other hedge funds and other institutional investors have also modified their holdings of ARCC. UBS Group AG boosted its position in shares of Ares Capital by 41.8% in the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after purchasing an additional 3,301,890 shares during the period. Marshall Wace LLP acquired a new position in shares of Ares Capital in the 3rd quarter valued at $36,943,000. Legal & General Group Plc boosted its position in shares of Ares Capital by 16.4% in the 4th quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock valued at $109,432,000 after purchasing an additional 761,838 shares during the period. Bank of America Corp DE boosted its position in shares of Ares Capital by 8.9% in the 2nd 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 purchasing an additional 705,882 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Ares Capital in the 1st quarter valued at $14,766,000. Institutional investors and hedge funds own 27.38% of the company’s stock.
Ares Capital Trading Up 1.0%
Shares of NASDAQ ARCC opened at $19.26 on Friday. Ares Capital Corporation has a one year low of $17.40 and a one year high of $23.42. The firm has a market capitalization of $13.83 billion, a PE ratio of 11.82 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $18.76 and a two-hundred day moving average price of $19.37.
Ares Capital Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.0%. Ares Capital’s dividend payout ratio (DPR) is 117.79%.
Analyst Upgrades and Downgrades
ARCC has been the subject of a number of recent analyst reports. B. Riley Financial decreased their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their price objective on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Royal Bank Of Canada decreased their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.65.
View Our Latest Stock Report on Ares Capital
About Ares Capital
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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