Ameriprise Financial Inc. increased its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,732,052 shares of the investment management company’s stock after acquiring an additional 236,468 shares during the quarter. Ameriprise Financial Inc. owned about 1.34% of Ares Capital worth $93,986,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its position in Ares Capital by 70.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,746 shares of the investment management company’s stock worth $356,000 after purchasing an additional 8,974 shares during the last quarter. Alpha Windward LLC grew its position in Ares Capital by 4,144.7% during the 3rd quarter. Alpha Windward LLC now owns 29,925 shares of the investment management company’s stock worth $490,000 after purchasing an additional 29,220 shares during the last quarter. Summit X LLC grew its position in Ares Capital by 61.8% during the 3rd quarter. Summit X LLC now owns 19,270 shares of the investment management company’s stock worth $315,000 after purchasing an additional 7,360 shares during the last quarter. Elliott Management Corp purchased a new position in Ares Capital during the 2nd quarter worth $18,343,000. Finally, Intl Fcstone Inc. purchased a new position in Ares Capital during the 2nd quarter worth $1,084,000. Hedge funds and other institutional investors own 43.90% of the company’s stock.
Several research analysts have issued reports on ARCC shares. Keefe, Bruyette & Woods set a $19.00 price objective on shares of Ares Capital and gave the stock a “buy” rating in a research report on Friday, October 6th. BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Ares Capital in a research report on Friday, August 25th. Finally, TheStreet downgraded shares of Ares Capital from a “b” rating to a “c+” rating in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.06.
Shares of Ares Capital Corporation (NASDAQ ARCC) opened at $16.37 on Monday. The firm has a market cap of $6,978.52, a PE ratio of 11.37, a PEG ratio of 3.95 and a beta of 0.63. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Corporation has a fifty-two week low of $15.48 and a fifty-two week high of $17.87.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million for the quarter, compared to the consensus estimate of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same quarter in the previous year, the firm earned $0.43 earnings per share. sell-side analysts expect that Ares Capital Corporation will post 1.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.29%. The ex-dividend date is Thursday, December 14th. Ares Capital’s payout ratio is 119.69%.
In other news, Director Michael J. Arougheti bought 8,365 shares of the stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now directly owns 937,054 shares in the company, valued at $14,852,305.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders bought 8,965 shares of company stock worth $142,323. Insiders own 0.45% of the company’s stock.
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Ares Capital Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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