Financial Advocates Investment Management Has $356,000 Stake in Ares Capital Co. (NASDAQ:ARCC)

Financial Advocates Investment Management lowered its position in Ares Capital Co. (NASDAQ:ARCC) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,790 shares of the investment management company’s stock after selling 1,205 shares during the period. Financial Advocates Investment Management’s holdings in Ares Capital were worth $356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lincoln National Corp increased its stake in shares of Ares Capital by 3.0% during the 4th quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock worth $354,000 after purchasing an additional 520 shares during the last quarter. Baron Financial Group LLC increased its position in Ares Capital by 3.0% during the fourth 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 last quarter. Syntal Capital Partners LLC raised its holdings in Ares Capital by 3.3% during the third quarter. Syntal Capital Partners LLC now owns 17,346 shares of the investment management company’s stock valued at $338,000 after buying an additional 551 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in shares of Ares Capital by 0.5% in the fourth quarter. Transcend Capital Advisors LLC now owns 108,577 shares of the investment management company’s stock worth $2,175,000 after buying an additional 557 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of 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 acquiring an additional 587 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

NASDAQ:ARCC opened at $21.33 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. Ares Capital Co. has a one year low of $18.00 and a one year high of $21.42. The company has a fifty day moving average price of $20.59 and a 200 day moving average price of $20.24. The stock has a market cap of $13.11 billion, a P/E ratio of 7.30 and a beta of 0.99.

Ares Capital (NASDAQ:ARCC) last posted 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). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The company had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts anticipate that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 annualized dividend and a yield of 9.00%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Oppenheimer boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a research note on Tuesday, March 26th. Truist Financial boosted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.43.

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.