First Horizon Advisors Inc. Acquires 931 Shares of Ares Capital Co. (NASDAQ:ARCC)

First Horizon Advisors Inc. raised its holdings in Ares Capital Co. (NASDAQ:ARCC) by 93.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,922 shares of the investment management company’s stock after purchasing an additional 931 shares during the quarter. First Horizon Advisors Inc.’s holdings in Ares Capital were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Baron Financial Group LLC raised its position in Ares Capital by 3.0% in the fourth quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock worth $368,000 after acquiring an additional 543 shares during the period. Syntal Capital Partners LLC increased its position in Ares Capital by 3.3% in the third quarter. Syntal Capital Partners LLC now owns 17,346 shares of the investment management company’s stock worth $338,000 after buying an additional 551 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in shares of Ares Capital by 0.5% in the fourth quarter. Transcend Capital Advisors LLC now owns 108,577 shares of the investment management company’s stock valued at $2,175,000 after buying an additional 557 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ares Capital by 1.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,595 shares of the investment management company’s stock valued at $693,000 after buying an additional 587 shares during the last quarter. Finally, Great Valley Advisor Group Inc. grew its stake in shares of Ares Capital by 4.4% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 14,067 shares of the investment management company’s stock worth $274,000 after acquiring an additional 597 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ARCC shares. Truist Financial upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Oppenheimer upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. JPMorgan Chase & Co. boosted their target price on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

Ares Capital Trading Down 0.1 %

Shares of ARCC stock opened at $20.78 on Thursday. The company has a market capitalization of $12.63 billion, a PE ratio of 7.12 and a beta of 0.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. The business’s fifty day moving average is $20.46 and its 200 day moving average is $20.11. Ares Capital Co. has a 52-week low of $18.00 and a 52-week high of $21.04.

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

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.24%. The ex-dividend date is Thursday, June 13th. Ares Capital’s dividend payout ratio (DPR) is currently 65.75%.

About Ares Capital

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.