Rockefeller Capital Management L.P. lifted its stake in Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,251,437 shares of the investment management company’s stock after purchasing an additional 79,488 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Ares Capital were worth $45,547,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Palladiem LLC bought a new position in Ares Capital during the 4th quarter worth $26,000. SWAN Capital LLC bought a new stake in shares of Ares Capital during the 3rd quarter valued at $27,000. Sankala Group LLC bought a new stake in shares of Ares Capital during the 4th quarter valued at $28,000. Core Wealth Advisors LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth $33,000. Finally, Quarry LP acquired a new stake in shares of Ares Capital during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 27.38% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Truist Financial dropped their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. UBS Group reduced their price objective on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. 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 research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.65.
Ares Capital Price Performance
Ares Capital stock opened at $18.03 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42. The stock has a market capitalization of $12.95 billion, a P/E ratio of 11.06 and a beta of 0.56. The stock has a fifty day moving average of $18.77 and a 200-day moving average of $19.29.
Ares Capital (NASDAQ:ARCC – Get Free Report) last released its quarterly earnings data 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 net margin of 37.30% and a return on equity of 9.85%. The business had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same period last year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.48 dividend. 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 10.6%. Ares Capital’s dividend payout ratio is 117.79%.
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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