10,489 Shares in Ares Capital Co. (NASDAQ:ARCC) Acquired by SVB Wealth LLC

SVB Wealth LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 10,489 shares of the investment management company’s stock, valued at approximately $230,000.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Ares Capital by 11.8% during the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock valued at $309,649,000 after acquiring an additional 1,489,552 shares in the last quarter. Confluence Investment Management LLC increased its stake in Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after purchasing an additional 63,999 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Ares Capital by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after buying an additional 104,710 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Ares Capital by 4.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company’s stock worth $50,659,000 after buying an additional 96,992 shares in the last quarter. Finally, CCLA Investment Management grew its holdings in shares of Ares Capital by 31.6% during the fourth quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock valued at $48,419,000 after buying an additional 531,305 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ARCC shares. JPMorgan Chase & Co. boosted their price target on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.94.

Ares Capital Trading Down 0.7 %

Shares of ARCC stock opened at $22.63 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a fifty day simple moving average of $22.86 and a two-hundred day simple moving average of $21.84. The firm has a market capitalization of $15.20 billion, a PE ratio of 9.24 and a beta of 1.00. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.48%. Ares Capital’s dividend payout ratio is 78.37%.

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.