Ares Capital Corporation (NASDAQ:ARCC) Stake Held by Walter & Keenan Financial Consulting Co. MI ADV
Walter & Keenan Financial Consulting Co. MI ADV continued to hold its position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, Holdings Channel reports. The institutional investor owned 17,500 shares of the investment management company’s stock at the end of the second quarter. Walter & Keenan Financial Consulting Co. MI ADV’s holdings in Ares Capital Corporation were worth $287,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Ares Capital Corporation during the fourth quarter worth about $130,000. Raymond James Trust N.A. purchased a new position in shares of Ares Capital Corporation during the first quarter valued at about $231,000. Chesley Taft & Associates LLC boosted its position in shares of Ares Capital Corporation by 0.5% in the first quarter. Chesley Taft & Associates LLC now owns 52,695 shares of the investment management company’s stock valued at $916,000 after buying an additional 270 shares during the period. Bank of Montreal Can boosted its position in shares of Ares Capital Corporation by 46.5% in the first quarter. Bank of Montreal Can now owns 3,431,407 shares of the investment management company’s stock valued at $59,637,000 after buying an additional 1,089,635 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Ares Capital Corporation by 3.4% in the first quarter. Private Trust Co. NA now owns 31,924 shares of the investment management company’s stock valued at $553,000 after buying an additional 1,056 shares during the period. 48.34% of the stock is owned by institutional investors.
Ares Capital Corporation (ARCC) opened at 16.35 on Thursday. Ares Capital Corporation has a 12-month low of $15.01 and a 12-month high of $17.87. The stock’s 50 day moving average is $16.39 and its 200 day moving average is $16.96.
Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. The firm had revenue of $284 million during the quarter, compared to the consensus estimate of $297.77 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. Equities analysts anticipate that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.30%. The ex-dividend date is Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio is currently 117.83%.
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Several research analysts have issued reports on ARCC shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Ares Capital Corporation in a report on Friday, May 5th. National Securities raised shares of Ares Capital Corporation from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $19.00 in a report on Monday, May 8th. BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 target price on shares of Ares Capital Corporation in a report on Thursday, June 1st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $18.50 target price on shares of Ares Capital Corporation in a report on Friday, June 16th. Finally, TheStreet cut shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $18.00.
About Ares Capital Corporation
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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