Arkadios Wealth Advisors Acquires 9,751 Shares of Ares Capital Co. (NASDAQ:ARCC)

Arkadios Wealth Advisors increased its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 9.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 117,380 shares of the investment management company’s stock after purchasing an additional 9,751 shares during the period. Arkadios Wealth Advisors’ holdings in Ares Capital were worth $2,458,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ARCC. Van ECK Associates Corp increased its holdings in shares of Ares Capital by 20.2% in the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock worth $243,434,000 after purchasing an additional 1,961,166 shares during the period. International Assets Investment Management LLC increased its stake in Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock worth $756,620,000 after acquiring an additional 3,449,395 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after acquiring an additional 273,025 shares in the last quarter. Advisors Capital Management LLC boosted its position in shares of Ares Capital by 7.8% during the 1st quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock valued at $64,524,000 after acquiring an additional 223,245 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of Ares Capital by 3.7% during the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after purchasing an additional 79,074 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Ares Capital Stock Down 0.4 %

ARCC opened at $21.58 on Friday. The company has a market cap of $13.26 billion, a P/E ratio of 7.39 and a beta of 1.01. Ares Capital Co. has a 12 month low of $18.59 and a 12 month high of $21.84. The business’s 50-day moving average price is $20.96 and its 200-day moving average price is $20.91. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05.

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

Ares Capital Announces Dividend

The company 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 8.90%. The ex-dividend date was Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

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.