DAVENPORT & Co LLC Has $5.46 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

DAVENPORT & Co LLC trimmed its holdings in Ares Capital Co. (NASDAQ:ARCCFree Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 272,507 shares of the investment management company’s stock after selling 7,184 shares during the period. DAVENPORT & Co LLC’s holdings in Ares Capital were worth $5,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Cibc World Market Inc. boosted its holdings in shares of Ares Capital by 23.8% in the first quarter. Cibc World Market Inc. now owns 82,913 shares of the investment management company’s stock valued at $1,737,000 after buying an additional 15,957 shares during the period. Moors & Cabot Inc. boosted its stake in Ares Capital by 59.1% in the 1st quarter. Moors & Cabot Inc. now owns 30,205 shares of the investment management company’s stock worth $633,000 after purchasing an additional 11,226 shares during the period. Baird Financial Group Inc. boosted its stake in Ares Capital by 26.2% in the 1st quarter. Baird Financial Group Inc. now owns 513,554 shares of the investment management company’s stock worth $10,759,000 after purchasing an additional 106,704 shares during the period. Loomis Sayles & Co. L P bought a new position in Ares Capital during the 1st quarter worth about $897,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Ares Capital by 70.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 4,595 shares of the investment management company’s stock valued at $96,000 after purchasing an additional 1,895 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $20.48 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average price of $20.26 and a 200 day moving average price of $19.86. The stock has a market capitalization of $12.43 billion, a PE ratio of 7.67 and a beta of 1.00. Ares Capital Co. has a 52 week low of $17.53 and a 52 week high of $20.86.

Ares Capital (NASDAQ:ARCCGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $707.00 million during the quarter, compared to the consensus estimate of $669.78 million. Ares Capital had a return on equity of 12.50% and a net margin of 58.22%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Analysts predict that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.38%. Ares Capital’s dividend payout ratio is presently 71.91%.

Analyst Ratings Changes

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

Get Our Latest Analysis on Ares Capital

Ares Capital Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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