LGT Capital Partners LTD. Has $26.64 Million Holdings in Ares Capital Co. (ARCC)

LGT Capital Partners LTD. grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,710,000 shares of the investment management company’s stock after purchasing an additional 190,000 shares during the period. Ares Capital comprises 2.2% of LGT Capital Partners LTD.’s holdings, making the stock its 17th largest holding. LGT Capital Partners LTD. owned 0.40% of Ares Capital worth $26,642,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Baker Ellis Asset Management LLC acquired a new position in shares of Ares Capital during the 3rd quarter worth approximately $138,000. Rehmann Capital Advisory Group grew its position in shares of Ares Capital by 43.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 9,658 shares of the investment management company’s stock worth $159,000 after purchasing an additional 2,930 shares in the last quarter. McKinley Carter Wealth Services Inc. acquired a new position in shares of Ares Capital during the 3rd quarter worth approximately $175,000. Partnervest Advisory Services LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth approximately $176,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth approximately $184,000. Hedge funds and other institutional investors own 39.26% of the company’s stock.

Several analysts recently issued reports on ARCC shares. National Securities reiterated a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research report on Thursday, November 1st. BidaskClub lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Oppenheimer set a $18.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research upgraded shares of Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Thursday, November 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.25.



In related news, CFO Penelope F. Roll sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $16.76, for a total value of $100,560.00. Following the completion of the transaction, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $186,823.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R. Kipp Deveer acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average cost of $16.02 per share, with a total value of $801,000.00. Following the purchase, the chief executive officer now owns 225,000 shares in the company, valued at $3,604,500. The disclosure for this purchase can be found here. In the last three months, insiders purchased 50,600 shares of company stock valued at $810,756. 0.49% of the stock is owned by insiders.

NASDAQ:ARCC traded up $0.10 on Monday, hitting $16.39. The company had a trading volume of 370,462 shares, compared to its average volume of 2,162,825. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 3.20 and a beta of 0.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.41 and a quick ratio of 2.41. Ares Capital Co. has a 52 week low of $14.50 and a 52 week high of $17.63.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, October 31st. The investment management company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.05. The business had revenue of $342.00 million during the quarter, compared to the consensus estimate of $320.15 million. Ares Capital had a net margin of 72.13% and a return on equity of 9.34%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, analysts expect that Ares Capital Co. will post 1.63 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 9.52%. The ex-dividend date of this dividend was Thursday, December 13th. Ares Capital’s payout ratio is 112.23%.

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Ares Capital 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.

Further Reading: How Important is Technical Analysis of Stocks

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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