Enstar Group LTD trimmed its position in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 28.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 354,955 shares of the investment management company’s stock after selling 140,157 shares during the period. Ares Capital makes up approximately 2.8% of Enstar Group LTD’s investment portfolio, making the stock its 9th largest position. Enstar Group LTD’s holdings in Ares Capital were worth $7,181,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Canal Capital Management LLC grew its stake in Ares Capital by 1.6% during the fourth quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock worth $667,000 after buying an additional 520 shares in the last quarter. Perigon Wealth Management LLC grew its stake in Ares Capital by 1.6% during the fourth quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock worth $702,000 after buying an additional 547 shares in the last quarter. Balboa Wealth Partners lifted its holdings in shares of Ares Capital by 1.3% in the third quarter. Balboa Wealth Partners now owns 44,755 shares of the investment management company’s stock worth $913,000 after acquiring an additional 559 shares during the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Ares Capital by 2.0% in the fourth quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock worth $589,000 after acquiring an additional 563 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of Ares Capital by 1.0% in the third quarter. Parallel Advisors LLC now owns 57,092 shares of the investment management company’s stock worth $1,165,000 after acquiring an additional 567 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on ARCC shares. Royal Bank Of Canada dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Tuesday. Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 target price (down from $20.00) on shares of Ares Capital in a report on Friday. Oppenheimer dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, B. Riley Financial dropped their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.65.
Ares Capital Stock Up 1.0%
Shares of NASDAQ ARCC opened at $19.26 on Friday. The company has a 50 day simple moving average of $18.76 and a 200 day simple moving average of $19.37. The firm has a market cap of $13.83 billion, a PE ratio of 11.82 and a beta of 0.56. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. 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 (NASDAQ:ARCC – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. On average, research analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current year.
Ares Capital Dividend Announcement
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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio is currently 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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