Vaughan Nelson Investment Management L.P. raised its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,964,651 shares of the investment management company’s stock after purchasing an additional 374,300 shares during the period. Ares Capital accounts for about 1.2% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 14th largest position. Vaughan Nelson Investment Management L.P. owned approximately 1.40% of Ares Capital worth $102,533,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Thornburg Investment Management Inc. raised its stake in shares of Ares Capital by 0.7% during the 3rd quarter. Thornburg Investment Management Inc. now owns 15,251,834 shares of the investment management company’s stock worth $262,179,000 after purchasing an additional 99,981 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Ares Capital by 65.3% during the 2nd quarter. Millennium Management LLC now owns 3,408,182 shares of the investment management company’s stock valued at $56,065,000 after acquiring an additional 1,346,837 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Ares Capital by 2.3% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 2,744,621 shares of the investment management company’s stock valued at $45,149,000 after acquiring an additional 61,162 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Ares Capital by 1.8% during the 2nd quarter. Brown Advisory Inc. now owns 2,352,165 shares of the investment management company’s stock valued at $38,693,000 after acquiring an additional 41,468 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Ares Capital by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 2,290,979 shares of the investment management company’s stock valued at $37,687,000 after acquiring an additional 65,013 shares during the last quarter. 40.31% of the stock is owned by institutional investors.
A number of research analysts have recently commented on ARCC shares. BidaskClub lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Citigroup started coverage on Ares Capital in a report on Thursday, August 23rd. They set a “buy” rating and a $19.00 price objective on the stock. National Securities reissued a “buy” rating and set a $19.00 price objective on shares of Ares Capital in a report on Thursday, November 1st. Oppenheimer set a $18.00 price objective on Ares Capital and gave the company a “buy” rating in a report on Thursday, November 1st. Finally, Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Thursday, November 15th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.25.
Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, October 31st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. The firm had revenue of $342.00 million for the quarter, compared to analyst estimates of $320.15 million. Ares Capital had a return on equity of 9.34% and a net margin of 72.13%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. Research analysts expect that Ares Capital Co. will post 1.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 9.19%. The ex-dividend date is Thursday, December 13th. Ares Capital’s dividend payout ratio (DPR) is currently 112.23%.
In other Ares Capital news, CFO Penelope F. Roll sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $16.76, for a total value of $100,560.00. Following the sale, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $186,823.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric B. Siegel bought 6,990 shares of the stock in a transaction on Wednesday, September 12th. The stock was acquired at an average cost of $17.30 per share, for a total transaction of $120,927.00. Following the acquisition, the director now directly owns 36,630 shares in the company, valued at $633,699. The disclosure for this purchase can be found here. Insiders acquired a total of 16,590 shares of company stock worth $287,999 in the last ninety days. Insiders own 0.49% of the company’s stock.
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Ares Capital 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.
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