Roosevelt Investment Group Inc. bought a new stake in Ares Capital Co. (NASDAQ:ARCC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 34,570 shares of the investment management company’s stock, valued at approximately $539,000.
Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management lifted its stake in shares of Ares Capital by 7.8% during the 4th quarter. LSV Asset Management now owns 681,665 shares of the investment management company’s stock worth $10,620,000 after buying an additional 49,600 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Ares Capital by 21.3% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 243,754 shares of the investment management company’s stock worth $3,798,000 after buying an additional 42,726 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of Ares Capital by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 175,739 shares of the investment management company’s stock worth $2,738,000 after buying an additional 4,009 shares during the last quarter. Alps Advisors Inc. lifted its stake in shares of Ares Capital by 31.0% during the 4th quarter. Alps Advisors Inc. now owns 474,400 shares of the investment management company’s stock worth $7,391,000 after buying an additional 112,200 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its stake in shares of Ares Capital by 28.7% during the 4th quarter. Pinnacle Financial Partners Inc. now owns 24,327 shares of the investment management company’s stock worth $379,000 after buying an additional 5,420 shares during the last quarter. 39.45% of the stock is owned by institutional investors and hedge funds.
NASDAQ:ARCC opened at $17.16 on Tuesday. Ares Capital Co. has a 52 week low of $14.50 and a 52 week high of $17.63. The stock has a market cap of $7.08 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 3.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.41 and a current ratio of 2.41.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, February 12th. The investment management company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. Ares Capital had a net margin of 72.13% and a return on equity of 9.34%. During the same quarter last year, the business earned $0.38 EPS. Equities research analysts anticipate that Ares Capital Co. will post 1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.32%. This is a positive change from Ares Capital’s previous quarterly dividend of $0.39. Ares Capital’s dividend payout ratio (DPR) is currently 112.23%.
In other Ares Capital news, CFO Penelope F. Roll sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $16.76, for a total value of $100,560.00. Following the transaction, the chief financial officer now directly owns 11,147 shares of the company’s stock, valued at approximately $186,823.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO R. Kipp Deveer bought 50,000 shares of the firm’s stock in a transaction on Friday, December 14th. The stock was purchased at an average cost of $16.02 per share, for a total transaction of $801,000.00. Following the completion of the acquisition, the chief executive officer now owns 225,000 shares in the company, valued at $3,604,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 50,600 shares of company stock worth $810,730. 0.49% of the stock is owned by insiders.
A number of research firms have recently issued reports on ARCC. BidaskClub upgraded shares of Ares Capital from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research cut shares of Ares Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $18.25.
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.
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