Cascade Investment Group Inc. Sells 1,350 Shares of Ares Capital Co. (NASDAQ:ARCC)

Cascade Investment Group Inc. decreased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,011 shares of the investment management company’s stock after selling 1,350 shares during the quarter. Ares Capital comprises approximately 1.0% of Cascade Investment Group Inc.’s investment portfolio, making the stock its 22nd biggest holding. Cascade Investment Group Inc.’s holdings in Ares Capital were worth $1,423,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ARCC. JBR Co Financial Management Inc grew its holdings in Ares Capital by 1.5% during the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after acquiring an additional 500 shares during the period. Onyx Bridge Wealth Group LLC grew its stake in shares of Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after purchasing an additional 531 shares during the period. Centaurus Financial Inc. grew its stake in shares of Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after purchasing an additional 542 shares during the period. Western Financial Corp CA increased its holdings in Ares Capital by 2.3% in the third quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company’s stock valued at $541,000 after purchasing an additional 579 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in Ares Capital by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock valued at $227,000 after buying an additional 629 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Up 0.8 %

Shares of ARCC stock opened at $23.18 on Monday. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.22. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a fifty day moving average of $21.94 and a 200-day moving average of $21.29. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of 8.92 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. Ares Capital’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. As a group, equities research analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is currently 73.85%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ARCC. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Finally, B. Riley lifted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.29.

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.