Accel Wealth Management Grows Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Accel Wealth Management lifted its stake in Ares Capital Co. (NASDAQ:ARCC) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,678 shares of the investment management company’s stock after acquiring an additional 898 shares during the quarter. Accel Wealth Management’s holdings in Ares Capital were worth $1,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ARCC. Horizon Financial Services LLC purchased a new stake in Ares Capital in the 3rd quarter worth approximately $28,000. Blue Trust Inc. boosted its holdings in Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after buying an additional 909 shares in the last quarter. Quarry LP purchased a new position in Ares Capital in the third quarter valued at $67,000. Centennial Bank AR acquired a new position in shares of Ares Capital in the third quarter worth about $102,000. Finally, Avior Wealth Management LLC boosted its stake in shares of Ares Capital by 19.6% during the 4th quarter. Avior Wealth Management LLC now owns 4,900 shares of the investment management company’s stock worth $107,000 after acquiring an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ARCC. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. B. Riley upped their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Stock Up 0.2 %

NASDAQ ARCC opened at $23.43 on Friday. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. The business has a fifty day moving average price of $22.12 and a 200 day moving average price of $21.37. The company has a market cap of $15.14 billion, a P/E ratio of 9.01 and a beta of 1.00.

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

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.19%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

Ares Capital 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.