Nomura Asset Management Co. Ltd. Cuts Stock Holdings in Ares Capital Corporation $ARCC

Nomura Asset Management Co. Ltd. trimmed its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,760,158 shares of the investment management company’s stock after selling 90,368 shares during the period. Nomura Asset Management Co. Ltd. owned 0.25% of Ares Capital worth $35,608,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ARCC. AQR Capital Management LLC grew its stake in Ares Capital by 6.5% during the first quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock valued at $365,000 after acquiring an additional 1,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ares Capital during the 1st quarter valued at about $273,000. Goldman Sachs Group Inc. lifted its holdings in Ares Capital by 14.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock valued at $62,824,000 after buying an additional 358,829 shares in the last quarter. Empowered Funds LLC lifted its holdings in Ares Capital by 139.9% during the 1st quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after buying an additional 16,128 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in Ares Capital during the 1st quarter valued at about $14,766,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $19.07 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $23.42. The company has a 50 day simple moving average of $18.57 and a two-hundred day simple moving average of $19.42. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 11.70 and a beta of 0.58.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS 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 for the quarter, compared to analyst estimates of $778.00 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. As a group, analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.1%. The ex-dividend date is Monday, June 15th. Ares Capital’s payout ratio is presently 117.79%.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of research reports. B. Riley Financial cut their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company dropped their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Oppenheimer dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, UBS Group dropped their target price on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Ares Capital Company Profile

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.