Key Client Fiduciary Advisors LLC Reduces Stake in Ares Capital Co. (NASDAQ:ARCC)

Key Client Fiduciary Advisors LLC trimmed its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,604 shares of the investment management company’s stock after selling 1,050 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Ares Capital were worth $1,345,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Confluence Investment Management LLC acquired a new position in shares of Ares Capital during the 1st quarter worth approximately $86,227,000. International Assets Investment Management LLC lifted its position in shares of Ares Capital by 1,865.8% in the fourth quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock valued at $844,260,000 after acquiring an additional 4,000,570 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Ares Capital by 11.3% during the fourth quarter. Van ECK Associates Corp now owns 8,282,079 shares of the investment management company’s stock valued at $165,890,000 after acquiring an additional 840,823 shares during the last quarter. Melia Wealth LLC purchased a new stake in Ares Capital during the 4th quarter worth about $13,992,000. Finally, Tudor Investment Corp Et Al acquired a new position in Ares Capital in the 3rd quarter valued at about $11,952,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a report on Tuesday, March 26th. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research note on Thursday, May 23rd. Oppenheimer lifted their price objective on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Truist Financial increased their target price on 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. lifted their price target on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Ares Capital Trading Down 0.7 %

Shares of Ares Capital stock traded down $0.15 during trading hours on Tuesday, reaching $20.52. The stock had a trading volume of 3,173,997 shares, compared to its average volume of 3,566,593. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 7.03 and a beta of 1.00. Ares Capital Co. has a 1 year low of $18.02 and a 1 year high of $21.84. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. The firm has a 50 day simple moving average of $21.01 and a two-hundred day simple moving average of $20.50.

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

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors 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 9.36%. Ares Capital’s dividend payout ratio is currently 65.75%.

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.