Atlantic Union Bankshares Corp Has $1.85 Million Position in Ares Capital Co. (NASDAQ:ARCC)

Atlantic Union Bankshares Corp reduced its holdings in Ares Capital Co. (NASDAQ:ARCC) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,714 shares of the investment management company’s stock after selling 4,069 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Ares Capital were worth $1,854,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC grew its position in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock worth $419,000 after buying an additional 430 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Ares Capital by 0.9% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock worth $1,230,000 after buying an additional 512 shares in the last quarter. Western Financial Corp CA grew its position in Ares Capital by 2.2% during the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after buying an additional 564 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after purchasing an additional 567 shares during the period. Finally, Tyche Wealth Partners LLC lifted its stake in Ares Capital by 3.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock worth $360,000 after purchasing an additional 578 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $23.01 on Friday. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84. The firm has a 50 day moving average of $22.91 and a 200-day moving average of $21.87. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $15.45 billion, a P/E ratio of 9.39 and a beta of 1.00.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.34%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Royal Bank of Canada raised their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.94.

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.