Integrated Wealth Concepts LLC Acquires 4,074 Shares of Ares Capital Co. (NASDAQ:ARCC)

Integrated Wealth Concepts LLC raised its holdings in Ares Capital Co. (NASDAQ:ARCC) by 13.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 34,599 shares of the investment management company’s stock after buying an additional 4,074 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Ares Capital were worth $725,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC bought a new stake in Ares Capital in the second quarter valued at $26,000. Horizon Financial Services LLC purchased a new stake in shares of Ares Capital in the 3rd quarter worth about $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at about $32,000. nVerses Capital LLC increased its position in shares of Ares Capital by 88.9% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after buying an additional 800 shares during the period. Finally, Ridgewood Investments LLC bought a new position in Ares Capital in the second quarter worth about $42,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ARCC has been the topic of several research reports. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. B. Riley upped their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group raised Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $22.27 on Tuesday. The business has a fifty day moving average price of $21.55 and a 200-day moving average price of $21.11. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $14.39 billion, a PE ratio of 8.57 and a beta of 1.01. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.43.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, equities analysts expect that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.62%. Ares Capital’s dividend payout ratio (DPR) is presently 73.85%.

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.