Captrust Financial Advisors Sells 9,335 Shares of Ares Capital Co. (NASDAQ:ARCC)

Captrust Financial Advisors decreased its position in Ares Capital Co. (NASDAQ:ARCC) by 4.6% in the third quarter, Holdings Channel.com reports. The firm owned 195,615 shares of the investment management company’s stock after selling 9,335 shares during the quarter. Captrust Financial Advisors’ holdings in Ares Capital were worth $4,096,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in Ares Capital by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock worth $18,540,000 after purchasing an additional 38,559 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Ares Capital by 1.7% during the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after acquiring an additional 63,999 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Ares Capital by 32.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company’s stock valued at $4,435,000 after acquiring an additional 52,007 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Ares Capital by 151.4% during the second quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock valued at $952,000 after acquiring an additional 27,523 shares in the last quarter. Finally, Partners Group Holding AG increased its holdings in shares of Ares Capital by 21.2% during the third quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock valued at $37,428,000 after acquiring an additional 312,255 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Up 0.4 %

Ares Capital stock opened at $22.18 on Wednesday. The stock has a market capitalization of $14.33 billion, a PE ratio of 8.53 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The business’s fifty day moving average is $21.41 and its 200 day moving average is $21.08. Ares Capital Co. has a one year low of $19.32 and a one year high of $22.30.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The firm had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. During the same period in the previous year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, sell-side analysts predict that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.66%. The ex-dividend date is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is currently 73.85%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating and set a $23.00 price target for the company in a report on Monday. B. Riley raised their price target on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital Company Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.