Apollon Wealth Management LLC Grows Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Apollon Wealth Management LLC boosted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 56.2% in the fourth quarter, HoldingsChannel reports. The fund owned 181,631 shares of the investment management company’s stock after purchasing an additional 65,340 shares during the quarter. Apollon Wealth Management LLC’s holdings in Ares Capital were worth $3,976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARCC. Van ECK Associates Corp increased its stake in Ares Capital by 8.3% during the 3rd quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after purchasing an additional 975,045 shares in the last quarter. Confluence Investment Management LLC raised 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 buying an additional 63,999 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after acquiring an additional 3,449,395 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ares Capital by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after acquiring an additional 104,710 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in shares of Ares Capital by 4.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,314,269 shares of the investment management company’s stock worth $50,659,000 after purchasing an additional 96,992 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.0 %

Shares of ARCC opened at $22.74 on Friday. The stock has a 50 day moving average price of $22.40 and a 200 day moving average price of $21.53. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.29 and a current ratio of 1.21. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 9.28 and a beta of 1.01. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Equities research analysts forecast that Ares Capital Co. will post 2.2 earnings per share for the current fiscal 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 8.44%. Ares Capital’s payout ratio is 78.37%.

Analyst Ratings Changes

ARCC has been the topic of several recent research reports. Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday. Royal Bank of Canada raised their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. B. Riley upped their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company cut 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.94.

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.