Rathbones Group PLC Has $7.58 Million Position in Ares Capital Corporation $ARCC

Rathbones Group PLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 51.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,007 shares of the investment management company’s stock after acquiring an additional 116,715 shares during the quarter. Rathbones Group PLC’s holdings in Ares Capital were worth $7,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fourth Dimension Wealth LLC acquired a new position in Ares Capital in the second quarter worth about $29,000. Elequin Capital LP bought a new stake in shares of Ares Capital in the 1st quarter valued at approximately $30,000. CNB Bank acquired a new position in shares of Ares Capital in the 2nd quarter worth approximately $36,000. Harbor Asset Planning Inc. acquired a new position in shares of Ares Capital in the 2nd quarter worth approximately $38,000. Finally, Wolff Wiese Magana LLC bought a new position in shares of Ares Capital during the 2nd quarter worth approximately $40,000. Institutional investors own 27.38% of the company’s stock.

Insider Activity

In related news, CEO Michael Kort Schnabel acquired 13,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $20.39 per share, with a total value of $265,070.00. Following the completion of the purchase, the chief executive officer directly owned 28,000 shares in the company, valued at approximately $570,920. This trade represents a 86.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.48% of the stock is owned by corporate insiders.

Ares Capital Stock Performance

Ares Capital stock opened at $20.20 on Monday. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a market cap of $14.46 billion, a PE ratio of 10.10 and a beta of 0.68. The company’s 50-day moving average is $20.68 and its two-hundred day moving average is $21.56.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. Ares Capital’s revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS. Equities analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.5%. The ex-dividend date is Monday, December 15th. Ares Capital’s dividend payout ratio (DPR) is currently 96.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ARCC shares. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Royal Bank Of Canada reduced their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, UBS Group decreased their price objective on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

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.