Pinkerton Retirement Specialists LLC lifted its holdings in Ares Capital Co. (NASDAQ:ARCC) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 168,337 shares of the investment management company’s stock after purchasing an additional 4,253 shares during the period. Ares Capital comprises 1.4% of Pinkerton Retirement Specialists LLC’s holdings, making the stock its 19th biggest position. Pinkerton Retirement Specialists LLC’s holdings in Ares Capital were worth $2,766,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in ARCC. US Bancorp DE lifted its position in shares of Ares Capital by 1.8% in the 2nd quarter. US Bancorp DE now owns 54,004 shares of the investment management company’s stock worth $885,000 after purchasing an additional 967 shares during the period. Sei Investments Co. lifted its position in shares of Ares Capital by 50.6% in the 2nd quarter. Sei Investments Co. now owns 69,980 shares of the investment management company’s stock worth $1,146,000 after purchasing an additional 23,505 shares during the period. IFP Advisors Inc lifted its position in shares of Ares Capital by 32.0% in the 2nd quarter. IFP Advisors Inc now owns 83,971 shares of the investment management company’s stock worth $1,375,000 after purchasing an additional 20,377 shares during the period. Morgan Dempsey Capital Management LLC lifted its position in shares of Ares Capital by 5.4% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 338,375 shares of the investment management company’s stock worth $5,546,000 after purchasing an additional 17,358 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Ares Capital by 370.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 310,010 shares of the investment management company’s stock worth $5,078,000 after purchasing an additional 244,080 shares during the period. 43.70% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on ARCC. Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Wedbush began coverage on shares of Ares Capital in a research report on Monday, November 27th. They issued an “outperform” rating and a $18.00 price target for the company. BidaskClub cut shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, TheStreet cut shares of Ares Capital from a “b” rating to a “c+” rating in a research report on Monday, November 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $18.00.
Shares of Ares Capital Co. (NASDAQ ARCC) opened at $16.24 on Thursday. Ares Capital Co. has a 52-week low of $15.48 and a 52-week high of $17.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $6,863.42, a P/E ratio of 11.18, a P/E/G ratio of 3.89 and a beta of 0.63.
Ares Capital (NASDAQ:ARCC) last posted its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The company had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. equities analysts forecast that Ares Capital Co. will post 1.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.36%. Ares Capital’s payout ratio is 119.69%.
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Ares Capital Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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