Quantinno Capital Management LP Has $236,000 Holdings in Ares Capital Co. (NASDAQ:ARCC)

Quantinno Capital Management LP lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 10.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,291 shares of the investment management company’s stock after purchasing an additional 1,083 shares during the period. Quantinno Capital Management LP’s holdings in Ares Capital were worth $236,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Ares Capital by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock worth $18,540,000 after buying an additional 38,559 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Ares Capital by 1.7% during the third quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after acquiring an additional 63,999 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Ares Capital by 25.1% during the third quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock valued at $4,651,000 after acquiring an additional 44,548 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in Ares Capital by 32.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company’s stock valued at $4,435,000 after acquiring an additional 52,007 shares during the last quarter. Finally, Partners Group Holding AG increased its position in Ares Capital by 21.2% in the third quarter. Partners Group Holding AG now owns 1,787,401 shares of the investment management company’s stock worth $37,428,000 after purchasing an additional 312,255 shares during the period. 27.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARCC. Wells Fargo & Company upgraded shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. B. Riley lifted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.29.

Ares Capital Price Performance

ARCC opened at $21.42 on Tuesday. The stock has a market cap of $13.84 billion, a P/E ratio of 8.24 and a beta of 1.01. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.43. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $21.65 and a 200 day simple moving average of $21.13.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same period in the prior year, the business earned $0.59 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, research analysts expect that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.96%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is 73.85%.

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.