Nicholas Hoffman & Company LLC. boosted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,214 shares of the investment management company’s stock after buying an additional 2,615 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Ares Capital were worth $474,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of Ares Capital by 195.3% during the 1st quarter. Baillie Gifford & Co. now owns 5,554,970 shares of the investment management company’s stock worth $103,933,000 after acquiring an additional 3,674,100 shares in the last quarter. Van ECK Associates Corp raised its position in Ares Capital by 92.4% during the second quarter. Van ECK Associates Corp now owns 3,681,525 shares of the investment management company’s stock worth $72,121,000 after acquiring an additional 1,768,073 shares during the period. Allianz Asset Management GmbH acquired a new position in Ares Capital during the first quarter worth $21,198,000. Nicola Wealth Management LTD. raised its position in shares of 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 buying an additional 738,644 shares during the last quarter. Finally, TCW Group Inc. grew its holdings in shares of 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. Institutional investors own 29.42% of the company’s stock.
Several research analysts have weighed in on the stock. Raymond James increased their target price on shares of Ares Capital from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Monday, August 2nd. Royal Bank of Canada raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.00.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 27th. The investment management company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.10. Ares Capital had a return on equity of 10.87% and a net margin of 101.77%. The company had revenue of $459.00 million for the quarter, compared to the consensus estimate of $385.97 million. Equities research analysts anticipate that Ares Capital Co. will post 1.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.41 per share. This is an increase from Ares Capital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.64 annualized dividend and a yield of 8.18%. Ares Capital’s dividend payout ratio is 91.95%.
Ares Capital Company Profile
Ares Capital Corp is a closed-end non-diversified management investment company. The fund targets companies operating in the fields of Health Care Services, Software & Services, Consumer Durables & Apparel, Energy, Food & Beverage, and Retail. It provides financing for buyouts, acquisitions, recapitalizations, restructurings, rescue financing, growth capital and general refinancing.
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