Prevail Innovative Wealth Advisors LLC Trims Holdings in Ares Capital Co. (NASDAQ:ARCC)

Prevail Innovative Wealth Advisors LLC decreased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,407 shares of the investment management company’s stock after selling 3,161 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Ares Capital were worth $2,876,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Ares Capital by 25.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock worth $4,651,000 after buying an additional 44,548 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Ares Capital by 331.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 178,224 shares of the investment management company’s stock worth $3,732,000 after acquiring an additional 136,927 shares during the last quarter. CreativeOne Wealth LLC increased its position in Ares Capital by 11.1% in the third quarter. CreativeOne Wealth LLC now owns 41,408 shares of the investment management company’s stock worth $867,000 after buying an additional 4,137 shares in the last quarter. Financial Counselors Inc. raised its stake in Ares Capital by 3.4% during the 3rd quarter. Financial Counselors Inc. now owns 34,031 shares of the investment management company’s stock worth $713,000 after acquiring an additional 1,110 shares during the period. Finally, Verition Fund Management LLC bought a new stake in Ares Capital during the 3rd quarter worth approximately $1,547,000. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

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

Ares Capital Price Performance

NASDAQ:ARCC opened at $22.11 on Friday. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 9.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day simple moving average of $22.80 and a 200-day simple moving average of $21.98. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84.

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

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.48 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.68%. Ares Capital’s dividend payout ratio (DPR) is currently 78.37%.

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.