Apollon Wealth Management LLC Increases Holdings in Ares Capital Co. (NASDAQ:ARCC)

Apollon Wealth Management LLC boosted its position in Ares Capital Co. (NASDAQ:ARCC) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,159 shares of the investment management company’s stock after buying an additional 2,452 shares during the quarter. Apollon Wealth Management LLC’s holdings in Ares Capital were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its position in Ares Capital by 11.3% during the 4th quarter. Van ECK Associates Corp now owns 8,282,079 shares of the investment management company’s stock worth $165,890,000 after acquiring an additional 840,823 shares during the last quarter. International Assets Investment Management LLC increased its stake 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 worth $844,260,000 after buying an additional 4,000,570 shares during the period. Advisors Capital Management LLC raised its holdings in Ares Capital by 0.8% during the 3rd quarter. Advisors Capital Management LLC now owns 3,043,209 shares of the investment management company’s stock valued at $59,251,000 after buying an additional 23,276 shares during the last quarter. Sound Income Strategies LLC boosted its position in Ares Capital by 3.5% during the 4th quarter. Sound Income Strategies LLC now owns 1,954,786 shares of the investment management company’s stock valued at $39,154,000 after buying an additional 66,878 shares during the period. Finally, Bruni J V & Co. Co. grew its holdings in Ares Capital by 0.4% in the 4th quarter. Bruni J V & Co. Co. now owns 1,398,203 shares of the investment management company’s stock worth $28,006,000 after acquiring an additional 6,001 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Ares Capital Trading Down 0.1 %

NASDAQ:ARCC opened at $20.78 on Thursday. Ares Capital Co. has a one year low of $18.00 and a one year high of $21.04. The company’s 50-day simple moving average is $20.46 and its 200 day simple moving average is $20.11. The firm has a market capitalization of $12.63 billion, a P/E ratio of 7.12 and a beta of 0.99. 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 (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share 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 during the quarter, compared to analysts’ expectations of $703.85 million. During the same quarter in the previous year, the company earned $0.56 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts forecast that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.24%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Ares Capital Company 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.