BB&T Securities LLC trimmed its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 56.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 224,591 shares of the investment management company’s stock after selling 292,470 shares during the quarter. BB&T Securities LLC owned 0.05% of Ares Capital worth $3,530,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in shares of Ares Capital by 14,542.3% during the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 7,562 shares during the period. Van Cleef Asset Management Inc bought a new stake in shares of Ares Capital during the 4th quarter valued at $157,000. Harvest Capital Management Inc bought a new stake in shares of Ares Capital during the 4th quarter valued at $162,000. Cypress Capital Management LLC WY raised its stake in shares of Ares Capital by 133.3% during the 4th quarter. Cypress Capital Management LLC WY now owns 10,500 shares of the investment management company’s stock valued at $165,000 after purchasing an additional 6,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Ares Capital during the 3rd quarter valued at $167,000. Institutional investors own 42.67% of the company’s stock.
In other Ares Capital news, CFO Penelope F. Roll bought 3,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $15.81 per share, for a total transaction of $47,430.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Arougheti bought 25,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was acquired at an average price of $15.60 per share, for a total transaction of $390,000.00. Following the completion of the purchase, the insider now directly owns 984,535 shares in the company, valued at $15,358,746. The disclosure for this purchase can be found here. Insiders acquired a total of 28,400 shares of company stock worth $443,850 over the last 90 days. Corporate insiders own 0.45% of the company’s stock.
Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, February 13th. The investment management company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $301.38 million. Ares Capital had a return on equity of 8.43% and a net margin of 57.50%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS. equities analysts predict that Ares Capital Co. will post 1.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.68%. Ares Capital’s dividend payout ratio is currently 96.82%.
A number of analysts recently issued reports on ARCC shares. Wedbush started coverage on Ares Capital in a research note on Monday, November 27th. They set an “outperform” rating and a $18.00 price objective on the stock. BidaskClub lowered Ares Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Compass Point started coverage on Ares Capital in a research note on Wednesday, December 6th. They set a “buy” rating and a $17.50 price objective on the stock. TheStreet upgraded Ares Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Finally, Zacks Investment Research lowered Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $18.00.
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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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