Rathbones Group PLC decreased its holdings in Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 96.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,571 shares of the investment management company’s stock after selling 366,753 shares during the period. Rathbones Group PLC’s holdings in Ares Capital were worth $227,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Palladiem LLC acquired a new stake in shares of Ares Capital in the fourth quarter worth approximately $26,000. SWAN Capital LLC purchased a new stake in Ares Capital in the third quarter valued at approximately $27,000. Sankala Group LLC acquired a new position in Ares Capital during the fourth quarter worth approximately $28,000. Core Wealth Advisors LLC acquired a new position in Ares Capital during the fourth quarter worth approximately $33,000. Finally, Quarry LP purchased a new position in Ares Capital during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 27.38% of the company’s stock.
Ares Capital Stock Up 1.6%
ARCC opened at $19.62 on Friday. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $22.76. The firm has a 50 day moving average price of $18.73 and a 200 day moving average price of $18.86. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $14.09 billion, a PE ratio of 14.53 and a beta of 0.56.
Ares Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Ares Capital’s dividend payout ratio (DPR) is currently 142.22%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on ARCC shares. Citizens Jmp decreased their price target on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Wall Street Zen downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Oppenheimer cut their target price 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. JPMorgan Chase & Co. reduced their target price on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada reduced their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.40.
Read Our Latest 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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