Centaurus Financial Inc. Raises Holdings in Ares Capital Co. (NASDAQ:ARCC)

Centaurus Financial Inc. grew its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,098 shares of the investment management company’s stock after buying an additional 670 shares during the period. Centaurus Financial Inc.’s holdings in Ares Capital were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ARCC. International Assets Investment Management LLC lifted its position in shares of Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after buying an additional 3,449,395 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Ares Capital by 20.2% during the 2nd quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after purchasing an additional 1,961,166 shares during the period. Cetera Investment Advisers raised its stake in shares of Ares Capital by 143.9% during the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock valued at $17,081,000 after purchasing an additional 484,088 shares during the period. Magnolia Capital Advisors LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at $9,815,000. Finally, Boston Partners bought a new stake in shares of Ares Capital during the 1st quarter valued at $7,792,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

ARCC has been the topic of a number of analyst reports. UBS Group upgraded Ares Capital to a “hold” rating in a research note on Friday, August 23rd. B. Riley boosted their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $22.01 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $14.22 billion, a PE ratio of 8.47 and a beta of 1.01. The business’s 50-day moving average price is $21.29 and its 200-day moving average price is $21.05. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.15.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm 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%. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. Sell-side analysts forecast that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

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