Key Client Fiduciary Advisors LLC Raises Stake in Ares Capital Co. (NASDAQ:ARCC)

Key Client Fiduciary Advisors LLC increased its stake in Ares Capital Co. (NASDAQ:ARCC) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,726 shares of the investment management company’s stock after buying an additional 2,464 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Ares Capital were worth $1,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Ares Capital by 20.2% during the second quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock worth $243,434,000 after acquiring an additional 1,961,166 shares during the period. Cetera Investment Advisers grew its holdings in Ares Capital by 143.9% during the 1st quarter. Cetera Investment Advisers now owns 820,390 shares of the investment management company’s stock worth $17,081,000 after acquiring an additional 484,088 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in Ares Capital during the 2nd quarter valued at about $9,815,000. 1832 Asset Management L.P. increased its position in Ares Capital by 52.7% during the 1st quarter. 1832 Asset Management L.P. now owns 1,354,097 shares of the investment management company’s stock valued at $28,192,000 after purchasing an additional 467,535 shares during the period. Finally, Allen Investment Management LLC raised its holdings in shares of Ares Capital by 33.5% in the 1st quarter. Allen Investment Management LLC now owns 1,664,312 shares of the investment management company’s stock valued at $34,651,000 after purchasing an additional 417,537 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

ARCC stock traded up $0.07 during trading on Friday, reaching $21.65. The company had a trading volume of 2,205,624 shares, compared to its average volume of 3,406,880. The company has a market cap of $13.30 billion, a price-to-earnings ratio of 7.41 and a beta of 1.01. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50-day simple moving average of $20.86 and a 200-day simple moving average of $20.87.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. During the same period in the previous year, the firm posted $0.58 earnings per share. As a group, sell-side analysts expect that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date was Friday, September 13th. Ares Capital’s dividend payout ratio is presently 65.75%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ARCC shares. JMP Securities lifted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a research report on Monday, August 5th. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Profile

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.