Griffin Asset Management Inc. Has $1.25 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Griffin Asset Management Inc. raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,890 shares of the investment management company’s stock after acquiring an additional 2,158 shares during the quarter. Griffin Asset Management Inc.’s holdings in Ares Capital were worth $1,247,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Chicago Partners Investment Group LLC lifted its holdings in shares of Ares Capital by 5.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock valued at $7,913,000 after buying an additional 20,202 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Ares Capital by 614.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,198 shares of the investment management company’s stock worth $144,000 after acquiring an additional 6,191 shares in the last quarter. NewEdge Wealth LLC acquired a new position in shares of Ares Capital during the 4th quarter worth $1,497,000. Anchor Investment Management LLC bought a new position in shares of Ares Capital during the 4th quarter valued at $123,000. Finally, Gilbert & Cook Inc. raised its holdings in shares of Ares Capital by 6.6% during the 4th quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock valued at $27,737,000 after purchasing an additional 85,561 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a report on Thursday, May 23rd. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Oppenheimer upped their target price on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Truist Financial lifted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $20.84 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $21.03 and its two-hundred day moving average is $20.51. The company has a market cap of $12.81 billion, a P/E ratio of 7.14 and a beta of 1.00. Ares Capital Co. has a 12 month low of $18.55 and a 12 month high of $21.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The company had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. On average, equities analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.21%. The ex-dividend date was Friday, June 14th. Ares Capital’s payout ratio is currently 65.75%.

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.