Capital Investment Advisors LLC Increases Holdings in Ares Capital Co. (NASDAQ:ARCC)

Capital Investment Advisors LLC lifted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 6.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,672 shares of the investment management company’s stock after purchasing an additional 1,981 shares during the period. Capital Investment Advisors LLC’s holdings in Ares Capital were worth $726,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Onyx Bridge Wealth Group LLC increased its holdings in shares of Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after purchasing an additional 531 shares during the last quarter. Secure Asset Management LLC raised its position in Ares Capital by 35.3% in the 3rd quarter. Secure Asset Management LLC now owns 14,704 shares of the investment management company’s stock worth $308,000 after purchasing an additional 3,840 shares during the period. Teamwork Financial Advisors LLC purchased a new position in Ares Capital during the 3rd quarter valued at $243,000. FLC Capital Advisors grew its holdings in shares of Ares Capital by 50.4% in the third quarter. FLC Capital Advisors now owns 28,899 shares of the investment management company’s stock worth $605,000 after purchasing an additional 9,683 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in shares of Ares Capital by 7.6% during the third quarter. Cornerstone Wealth Management LLC now owns 30,749 shares of the investment management company’s stock valued at $644,000 after acquiring an additional 2,184 shares in the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.3 %

ARCC stock opened at $21.65 on Monday. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84. The stock has a market cap of $13.30 billion, a P/E ratio of 7.41 and a beta of 1.01. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $20.86 and its two-hundred day moving average is $20.87.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Research analysts expect that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s dividend payout ratio is currently 65.75%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JMP Securities lifted their price target on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, Compass Point raised Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

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.