CIBC Private Wealth Group LLC Boosts Stake in Ares Capital Co. (NASDAQ:ARCC)

CIBC Private Wealth Group LLC increased its stake in Ares Capital Co. (NASDAQ:ARCCFree Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 499,837 shares of the investment management company’s stock after buying an additional 8,266 shares during the period. CIBC Private Wealth Group LLC’s holdings in Ares Capital were worth $10,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in shares of Ares Capital in the 4th quarter worth approximately $25,000. Pingora Partners LLC bought a new position in Ares Capital in the 4th quarter valued at approximately $30,000. First Horizon Advisors Inc. lifted its position in Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after acquiring an additional 931 shares in the last quarter. Assetmark Inc. lifted its position in Ares Capital by 218.7% in the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock valued at $39,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Activest Wealth Management lifted its position in Ares Capital by 137.2% in the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after acquiring an additional 1,239 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Down 1.0 %

Shares of Ares Capital stock opened at $21.36 on Friday. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 7.32 and a beta of 1.00. The business has a 50-day moving average price of $20.89 and a 200-day moving average price of $20.39. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. Ares Capital Co. has a twelve month low of $18.00 and a twelve month high of $21.84.

Ares Capital (NASDAQ:ARCCGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. Equities research analysts anticipate that Ares Capital Co. will post 2.34 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s payout ratio is 65.75%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial upped their price objective on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer raised their target price on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Thursday, May 23rd. JPMorgan Chase & Co. raised their target price on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Get Our Latest Stock Report on ARCC

Ares Capital Company Profile

(Free Report)

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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