Griffin Asset Management Inc. Has $1.33 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Griffin Asset Management Inc. grew its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,609 shares of the investment management company’s stock after purchasing an additional 767 shares during the period. Griffin Asset Management Inc.’s holdings in Ares Capital were worth $1,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ARCC. Jamison Private Wealth Management Inc. grew its position in shares of Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after purchasing an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth approximately $26,000. Valley National Advisers Inc. boosted its position in shares of Ares Capital by 323.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after acquiring an additional 1,096 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth approximately $32,000. Finally, nVerses Capital LLC boosted its position in shares of Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after acquiring an additional 800 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

ARCC stock opened at $21.41 on Wednesday. The company has a fifty day moving average price of $20.79 and a 200-day moving average price of $20.85. The company has a market capitalization of $13.16 billion, a P/E ratio of 7.33 and a beta of 1.01. Ares Capital Co. has a 52-week low of $18.55 and a 52-week high of $21.84. 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 announced its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. During the same quarter last year, the firm earned $0.58 earnings per share. As a group, equities analysts expect that Ares Capital Co. will post 2.39 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.97%. The ex-dividend date was Friday, September 13th. Ares Capital’s payout ratio is 65.75%.

Analysts Set New Price Targets

Several analysts recently issued reports on ARCC shares. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. JMP Securities increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” 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, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

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.