Boston Private Wealth LLC Boosts Holdings in Ares Capital Co. (NASDAQ:ARCC)

Boston Private Wealth LLC raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 122.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 44,297 shares of the investment management company’s stock after purchasing an additional 24,419 shares during the period. Boston Private Wealth LLC’s holdings in Ares Capital were worth $829,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of Ares Capital by 195.3% during the first quarter. Baillie Gifford & Co. now owns 5,554,970 shares of the investment management company’s stock worth $103,933,000 after buying an additional 3,674,100 shares in the last quarter. HighTower Advisors LLC grew its holdings in Ares Capital by 133.7% in the fourth quarter. HighTower Advisors LLC now owns 2,378,385 shares of the investment management company’s stock valued at $40,164,000 after purchasing an additional 1,360,819 shares during the period. Nicola Wealth Management LTD. grew its holdings in Ares Capital by 479.0% in the first quarter. Nicola Wealth Management LTD. now owns 892,834 shares of the investment management company’s stock valued at $16,705,000 after purchasing an additional 738,644 shares during the period. Nuveen Asset Management LLC purchased a new stake in Ares Capital in the fourth quarter valued at approximately $11,045,000. Finally, TCW Group Inc. grew its holdings in Ares Capital by 383.8% in the first quarter. TCW Group Inc. now owns 685,566 shares of the investment management company’s stock valued at $12,827,000 after purchasing an additional 543,856 shares during the period. Hedge funds and other institutional investors own 30.63% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Ares Capital from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, March 17th. Wedbush lifted their price target on shares of Ares Capital from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, April 29th. Citigroup lifted their price target on shares of Ares Capital from $17.00 to $20.00 in a research report on Thursday, February 11th. Zacks Investment Research cut shares of Ares Capital from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Tuesday, April 13th. Finally, TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a research report on Friday, April 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ares Capital has a consensus rating of “Buy” and a consensus price target of $18.56.

NASDAQ ARCC opened at $19.73 on Friday. The firm has a market capitalization of $8.63 billion, a PE ratio of 5.72 and a beta of 1.19. The stock’s fifty day moving average price is $19.33. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 52 week low of $13.15 and a 52 week high of $20.10.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 27th. The investment management company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. The firm had revenue of $390.00 million for the quarter, compared to analysts’ expectations of $385.85 million. Ares Capital had a net margin of 95.89% and a return on equity of 10.46%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities analysts forecast that Ares Capital Co. will post 1.73 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be issued a $0.40 dividend. The ex-dividend date is Monday, June 14th. This represents a $1.60 annualized dividend and a yield of 8.11%. Ares Capital’s dividend payout ratio is presently 91.95%.

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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