Foresight Capital Management Advisors Inc. Has $6.44 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Foresight Capital Management Advisors Inc. grew its stake in Ares Capital Co. (NASDAQ:ARCC) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,381 shares of the investment management company’s stock after purchasing an additional 13,540 shares during the quarter. Ares Capital makes up approximately 3.8% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 4th largest holding. Foresight Capital Management Advisors Inc.’s holdings in Ares Capital were worth $6,444,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of Ares Capital by 24.3% in the 3rd quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock valued at $13,900,000 after purchasing an additional 127,219 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Ares Capital by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock valued at $18,540,000 after purchasing an additional 38,559 shares during the last quarter. Confluence Investment Management LLC increased its position in Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after purchasing an additional 63,999 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Ares Capital by 25.1% in the third quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock valued at $4,651,000 after buying an additional 44,548 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Ares Capital by 32.5% during the third quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company’s stock worth $4,435,000 after buying an additional 52,007 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several recent research reports. B. Riley raised their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company upgraded shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Stock Up 1.0 %

Shares of NASDAQ ARCC opened at $22.66 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.68. The stock has a market capitalization of $14.64 billion, a P/E ratio of 8.72 and a beta of 1.00. The company has a 50-day moving average price of $21.87 and a 200-day moving average price of $21.26.

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

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.47%. Ares Capital’s payout ratio is currently 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.