WealthPLAN Partners LLC lowered its stake in Ares Capital Co. (NASDAQ:ARCC) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,377 shares of the investment management company’s stock after selling 19,522 shares during the period. WealthPLAN Partners LLC’s holdings in Ares Capital were worth $2,235,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Core Wealth Advisors Inc. acquired a new stake in shares of Ares Capital in the fourth quarter valued at approximately $25,000. Perigon Wealth Management LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at approximately $37,000. Prospera Financial Services Inc acquired a new stake in shares of Ares Capital in the third quarter valued at approximately $33,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at approximately $39,000. Finally, CVA Family Office LLC acquired a new stake in shares of Ares Capital in the third quarter valued at approximately $39,000. 31.33% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on ARCC shares. Janney Montgomery Scott raised shares of Ares Capital from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 27th. Raymond James raised their price objective on shares of Ares Capital from $17.50 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 11th. Barclays cut shares of Ares Capital from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $16.00 to $17.00 in a research note on Thursday, December 10th. Citigroup raised their price objective on shares of Ares Capital from $17.00 to $20.00 in a research note on Thursday, February 11th. Finally, JPMorgan Chase & Co. cut shares of Ares Capital from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 10th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Ares Capital has a consensus rating of “Buy” and a consensus price target of $16.56.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, February 9th. The investment management company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. Ares Capital had a net margin of 21.28% and a return on equity of 10.05%. The business had revenue of $440.00 million for the quarter, compared to analyst estimates of $359.17 million. During the same period last year, the business posted $0.46 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, analysts forecast that Ares Capital Co. will post 1.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 12th. This represents a $1.60 annualized dividend and a dividend yield of 8.88%. Ares Capital’s dividend payout ratio is presently 84.66%.
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.
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