SVB Wealth LLC Decreases Stock Position in Ares Capital Co. (NASDAQ:ARCC)

SVB Wealth LLC lessened its position in Ares Capital Co. (NASDAQ:ARCC) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,832 shares of the investment management company’s stock after selling 7,278 shares during the quarter. SVB Wealth LLC’s holdings in Ares Capital were worth $297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI lifted its position in Ares Capital by 4.8% during the third quarter. National Bank of Canada FI now owns 66,849 shares of the investment management company’s stock worth $1,276,000 after buying an additional 3,090 shares in the last quarter. Global Retirement Partners LLC lifted its position in Ares Capital by 5.6% during the third quarter. Global Retirement Partners LLC now owns 13,978 shares of the investment management company’s stock worth $262,000 after buying an additional 744 shares in the last quarter. Riverbridge Partners LLC lifted its position in Ares Capital by 13.3% during the third quarter. Riverbridge Partners LLC now owns 46,216 shares of the investment management company’s stock worth $900,000 after buying an additional 5,442 shares in the last quarter. Xcel Wealth Management LLC purchased a new position in Ares Capital during the third quarter worth approximately $198,000. Finally, Perennial Advisors LLC lifted its position in Ares Capital by 1.9% during the third quarter. Perennial Advisors LLC now owns 177,871 shares of the investment management company’s stock worth $3,463,000 after buying an additional 3,343 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the topic of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a research report on Tuesday, March 26th. B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research note on Monday, January 8th. Finally, Wells Fargo & Company raised their target price on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Ares Capital currently has an average rating of “Hold” and a consensus price target of $20.80.

Ares Capital Trading Up 0.3 %

Shares of NASDAQ ARCC opened at $20.66 on Tuesday. Ares Capital Co. has a twelve month low of $17.53 and a twelve month high of $20.86. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $20.32 and a 200-day simple moving average of $19.98. The stock has a market capitalization of $12.54 billion, a PE ratio of 7.74 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $707.00 million during the quarter, compared to analyst estimates of $669.78 million. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. Ares Capital’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $0.68 earnings per share. On average, equities analysts forecast that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.48 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 9.29%. Ares Capital’s dividend payout ratio (DPR) is presently 71.91%.

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.