Ares Capital Co. (NASDAQ:ARCC) Position Increased by Magnus Financial Group LLC

Magnus Financial Group LLC boosted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,319 shares of the investment management company’s stock after buying an additional 664 shares during the quarter. Magnus Financial Group LLC’s holdings in Ares Capital were worth $694,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Ares Capital by 4.7% in the 4th quarter. US Bancorp DE now owns 43,056 shares of the investment management company’s stock worth $942,000 after acquiring an additional 1,945 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Ares Capital in the 4th quarter valued at $222,000. Silver Oak Securities Incorporated acquired a new position in shares of Ares Capital in the 4th quarter valued at $310,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Ares Capital by 6.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 938,635 shares of the investment management company’s stock worth $20,547,000 after purchasing an additional 53,229 shares in the last quarter. Finally, Sage Advisors LLC raised its holdings in Ares Capital by 5.9% during the 4th quarter. Sage Advisors LLC now owns 964,688 shares of the investment management company’s stock worth $21,117,000 after buying an additional 54,063 shares during the period. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ARCC. UBS Group decreased their target price on shares of Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $24.50 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada cut their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Ares Capital Stock Up 1.1%

Ares Capital stock opened at $22.19 on Friday. Ares Capital Co. has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market cap of $15.40 billion, a PE ratio of 9.06 and a beta of 0.68. The firm’s 50 day moving average price is $21.03 and its two-hundred day moving average price is $21.94.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.59 earnings per share. On average, research analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.65%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital’s dividend payout ratio is 93.66%.

About Ares Capital

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.