Larson Financial Group LLC Grows Position in Ares Capital Co. (NASDAQ:ARCC)

Larson Financial Group LLC lifted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,817 shares of the investment management company’s stock after acquiring an additional 5,207 shares during the period. Larson Financial Group LLC’s holdings in Ares Capital were worth $1,923,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. lifted its position in shares of Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new position in shares of Ares Capital during the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital in the second quarter worth about $32,000. nVerses Capital LLC increased its stake in shares of Ares Capital by 88.9% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after purchasing an additional 800 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Ares Capital during the second quarter valued at about $42,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JMP Securities increased their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Finally, StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Price Performance

ARCC stock opened at $22.02 on Monday. The firm’s 50-day moving average price is $21.22 and its two-hundred day moving average price is $21.04. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $22.05. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 8.47 and a beta of 1.01. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. As a group, equities analysts predict that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.72%. Ares Capital’s payout ratio is 73.85%.

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.