COFG Advisors LLC Purchases New Shares in Ares Capital Corporation $ARCC

COFG Advisors LLC purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 37,893 shares of the investment management company’s stock, valued at approximately $767,000.

A number of other large investors also recently made changes to their positions in the company. UBS Group AG lifted its position in shares of Ares Capital by 41.8% during the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after purchasing an additional 3,301,890 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Ares Capital by 8.9% during the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after purchasing an additional 705,882 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Ares Capital by 16.4% during the fourth quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock valued at $109,432,000 after purchasing an additional 761,838 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Ares Capital by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 3,794,378 shares of the investment management company’s stock valued at $83,353,000 after purchasing an additional 225,984 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its position in shares of Ares Capital by 13.5% during the fourth quarter. Advisors Capital Management LLC now owns 3,566,790 shares of the investment management company’s stock valued at $72,156,000 after purchasing an additional 423,795 shares in the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Price Performance

ARCC opened at $19.07 on Tuesday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 11.70 and a beta of 0.56. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $18.57 and a 200-day moving average price of $19.42. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42.

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

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is 117.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Citizens Jmp decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Oppenheimer decreased their price objective 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. B. Riley Financial decreased their price objective 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. Finally, Keefe, Bruyette & Woods decreased their price objective 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. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus target price of $20.75.

About Ares Capital

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.