Allworth Financial LP Sells 1,487 Shares of Ares Capital Co. (NASDAQ:ARCC)

Allworth Financial LP lowered its position in Ares Capital Co. (NASDAQ:ARCC – Free Report) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,912 shares of the investment management company’s stock after selling 1,487 shares during the quarter. Allworth Financial LP’s holdings in Ares Capital were worth $162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ARCC. Blue Trust Inc. raised its stake in shares of Ares Capital by 56.8% in the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock valued at $52,000 after acquiring an additional 909 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Ares Capital by 12.0% in the third quarter. Raymond James & Associates now owns 964,643 shares of the investment management company’s stock valued at $20,200,000 after purchasing an additional 103,049 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Ares Capital by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock valued at $227,000 after purchasing an additional 629 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Ares Capital by 6.9% in the third quarter. Private Advisor Group LLC now owns 312,929 shares of the investment management company’s stock valued at $6,553,000 after purchasing an additional 20,189 shares in the last quarter. Finally, Sigma Investment Counselors Inc. increased its holdings in shares of Ares Capital by 4.6% in the third quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company’s stock valued at $14,275,000 after purchasing an additional 29,786 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ARCC shares. B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.94.

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Ares Capital Price Performance

Shares of ARCC stock opened at $23.30 on Friday. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84. The firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of 9.51 and a beta of 1.01. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average of $22.61 and a 200-day moving average of $21.70.

Ares Capital (NASDAQ:ARCC – Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, equities research analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.48 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.24%. Ares Capital’s dividend payout ratio is currently 78.37%.

About Ares Capital

(Free Report)

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.