Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by SlateStone Wealth LLC

SlateStone Wealth LLC increased its stake in Ares Capital Co. (NASDAQ:ARCC) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 220,949 shares of the investment management company’s stock after purchasing an additional 12,003 shares during the quarter. SlateStone Wealth LLC’s holdings in Ares Capital were worth $4,426,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Baron Financial Group LLC raised its holdings in Ares Capital by 3.0% during the 4th quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock worth $368,000 after buying an additional 543 shares during the period. Syntal Capital Partners LLC raised its holdings in Ares Capital by 3.3% during the 3rd quarter. Syntal Capital Partners LLC now owns 17,346 shares of the investment management company’s stock worth $338,000 after buying an additional 551 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ares Capital by 1.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,595 shares of the investment management company’s stock worth $693,000 after buying an additional 587 shares during the period. Great Valley Advisor Group Inc. raised its holdings in Ares Capital by 4.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,067 shares of the investment management company’s stock worth $274,000 after buying an additional 597 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Ares Capital by 5.0% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,787 shares of the investment management company’s stock worth $256,000 after buying an additional 605 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Up 0.0 %

Shares of Ares Capital stock opened at $20.75 on Wednesday. The stock has a market capitalization of $12.59 billion, a P/E ratio of 7.77 and a beta of 1.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average price of $20.33 and a two-hundred day moving average price of $19.99. Ares Capital Co. has a 12-month low of $17.53 and a 12-month high of $20.86.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $669.78 million. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities analysts expect that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.25%. Ares Capital’s payout ratio is currently 71.91%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARCC. Wells Fargo & Company boosted their price objective on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. B. Riley downgraded Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a report on Monday, January 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.80.

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.