Armstrong Advisory Group Inc. Decreases Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Armstrong Advisory Group Inc. cut its stake in Ares Capital Co. (NASDAQ:ARCC) by 26.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,499 shares of the investment management company’s stock after selling 1,283 shares during the period. Armstrong Advisory Group Inc.’s holdings in Ares Capital were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Syon Capital LLC acquired a new stake in Ares Capital during the fourth quarter worth about $568,000. ICA Group Wealth Management LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $89,000. B. Riley Wealth Advisors Inc. raised its position in shares of Ares Capital by 16.8% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 153,130 shares of the investment management company’s stock valued at $3,067,000 after buying an additional 21,997 shares during the period. Melia Wealth LLC lifted its holdings in Ares Capital by 0.4% in the first quarter. Melia Wealth LLC now owns 701,158 shares of the investment management company’s stock valued at $14,598,000 after acquiring an additional 2,629 shares during the last quarter. Finally, EWG Elevate Inc. grew its position in Ares Capital by 6.3% in the first quarter. EWG Elevate Inc. now owns 146,389 shares of the investment management company’s stock worth $3,048,000 after acquiring an additional 8,614 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Trading Up 0.3 %

Shares of ARCC stock opened at $21.38 on Tuesday. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84. The company has a 50 day moving average price of $20.77 and a 200 day moving average price of $20.85. The stock has a market capitalization of $13.14 billion, a P/E ratio of 7.32 and a beta of 1.01. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Equities research analysts predict that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.98%. The ex-dividend date was Friday, September 13th. Ares Capital’s payout ratio is presently 65.75%.

Ares Capital 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.