Key Financial Inc Acquires 988 Shares of Ares Capital Co. (NASDAQ:ARCC)

Key Financial Inc raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,465 shares of the investment management company’s stock after acquiring an additional 988 shares during the period. Key Financial Inc’s holdings in Ares Capital were worth $142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Ares Capital in the fourth quarter worth approximately $519,000. Round Rock Advisors LLC bought a new position in shares of Ares Capital in the fourth quarter worth approximately $1,512,000. Chicago Partners Investment Group LLC grew its holdings in shares of Ares Capital by 5.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock worth $11,208,000 after purchasing an additional 25,347 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Ares Capital by 24.3% in the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock worth $13,900,000 after purchasing an additional 127,219 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Ares Capital by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock worth $18,540,000 after purchasing an additional 38,559 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $23.35 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.29 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $15.68 billion, a P/E ratio of 9.53 and a beta of 1.01. The business has a fifty day simple moving average of $22.53 and a two-hundred day simple moving average of $21.65. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, equities analysts forecast that Ares Capital Co. will post 2.2 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.22%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio is presently 78.37%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ARCC shares. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company cut their price target on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus target price of $22.94.

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.