AA Financial Advisors LLC Has $607,000 Holdings in Ares Capital Co. (NASDAQ:ARCC)

AA Financial Advisors LLC cut its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,975 shares of the investment management company’s stock after selling 471 shares during the quarter. AA Financial Advisors LLC’s holdings in Ares Capital were worth $607,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RFG Advisory LLC grew its position in Ares Capital by 10.2% during the 1st quarter. RFG Advisory LLC now owns 26,097 shares of the investment management company’s stock worth $543,000 after purchasing an additional 2,422 shares in the last quarter. Global Assets Advisory LLC grew its holdings in shares of Ares Capital by 2,049.3% during the first quarter. Global Assets Advisory LLC now owns 278,079 shares of the investment management company’s stock valued at $5,790,000 after buying an additional 265,141 shares in the last quarter. Sound Income Strategies LLC raised its position in Ares Capital by 5.4% during the first quarter. Sound Income Strategies LLC now owns 2,060,063 shares of the investment management company’s stock valued at $42,891,000 after buying an additional 105,277 shares during the period. CIC Wealth LLC lifted its stake in Ares Capital by 38.2% in the 1st quarter. CIC Wealth LLC now owns 19,282 shares of the investment management company’s stock worth $401,000 after acquiring an additional 5,326 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Ares Capital by 21.6% during the 1st quarter. Sunbelt Securities Inc. now owns 58,892 shares of the investment management company’s stock worth $1,226,000 after acquiring an additional 10,478 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARCC. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research report on Monday, August 5th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, JMP Securities increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Stock Up 0.3 %

Shares of ARCC stock opened at $21.65 on Friday. The stock’s 50 day simple moving average is $20.86 and its 200 day simple moving average is $20.87. 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 company has a market capitalization of $13.30 billion, a price-to-earnings ratio of 7.41 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The company had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same quarter last year, the firm posted $0.58 earnings per share. As a group, research analysts predict that Ares Capital Co. will post 2.39 EPS for the current year.

Ares Capital Announces Dividend

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

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.