iA Global Asset Management Inc. Has $18.23 Million Holdings in Ares Capital Corporation $ARCC

iA Global Asset Management Inc. lifted its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 9.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 901,098 shares of the investment management company’s stock after purchasing an additional 79,736 shares during the quarter. iA Global Asset Management Inc.’s holdings in Ares Capital were worth $18,229,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Security National Bank acquired a new stake in shares of Ares Capital during the fourth quarter worth $62,000. Millennium Capital Advisors LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $657,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Ares Capital by 1,613.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 229,554 shares of the investment management company’s stock worth $4,644,000 after buying an additional 216,154 shares during the period. Left Brain Wealth Management LLC increased its position in shares of Ares Capital by 6.5% during the fourth quarter. Left Brain Wealth Management LLC now owns 31,834 shares of the investment management company’s stock worth $644,000 after buying an additional 1,944 shares during the period. Finally, PCG Wealth Advisors LLC increased its position in shares of Ares Capital by 4.7% during the fourth quarter. PCG Wealth Advisors LLC now owns 20,193 shares of the investment management company’s stock worth $408,000 after buying an additional 911 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of research reports. Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. B. Riley Financial reduced their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Royal Bank Of Canada reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Oppenheimer reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.75.

Ares Capital Trading Down 0.2%

NASDAQ:ARCC opened at $18.90 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 11.60 and a beta of 0.58. The firm has a fifty day simple moving average of $18.48 and a two-hundred day simple moving average of $19.55. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $23.42.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The business had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts expect that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is 117.79%.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.