Allworth Financial LP Has $162,000 Stake in Ares Capital Co. (NASDAQ:ARCC)

Allworth Financial LP trimmed its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,912 shares of the investment management company’s stock after selling 1,487 shares during the quarter. Allworth Financial LP’s holdings in Ares Capital were worth $162,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at about $2,289,000. Beacon Capital Management LLC grew its position in shares of Ares Capital by 14.7% in the fourth quarter. Beacon Capital Management LLC now owns 9,353 shares of the investment management company’s stock valued at $205,000 after purchasing an additional 1,200 shares during the last quarter. Ellis Investment Partners LLC grew its position in shares of Ares Capital by 17.8% in the fourth quarter. Ellis Investment Partners LLC now owns 11,534 shares of the investment management company’s stock valued at $252,000 after purchasing an additional 1,743 shares during the last quarter. Vista Finance LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at about $8,413,000. Finally, Montag A & Associates Inc. grew its position in shares of Ares Capital by 92.6% in the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock valued at $63,000 after purchasing an additional 1,389 shares during the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Down 0.4 %

Shares of ARCC opened at $23.30 on Friday. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 9.51 and a beta of 1.01. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84. The company has a 50-day moving average price of $22.61 and a two-hundred day moving average price of $21.70.

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

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio is 78.37%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ARCC shares. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods raised their price target on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Raymond James downgraded Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. B. Riley lifted their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $22.94.

About Ares Capital

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.