Centennial Bank AR Invests $102,000 in Ares Capital Co. (NASDAQ:ARCC)

Centennial Bank AR bought a new stake in Ares Capital Co. (NASDAQ:ARCC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,856 shares of the investment management company’s stock, valued at approximately $102,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jamison Private Wealth Management Inc. raised its holdings in Ares Capital by 62.7% during the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after acquiring an additional 475 shares in the last quarter. Capital Investment Advisors LLC raised its position in Ares Capital by 1.6% during the second quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after acquiring an additional 499 shares in the last quarter. JBR Co Financial Management Inc grew its position in shares of Ares Capital by 1.5% in the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after acquiring an additional 500 shares during the period. Onyx Bridge Wealth Group LLC increased its stake in shares of Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after purchasing an additional 531 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after purchasing an additional 542 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Down 0.7 %

ARCC opened at $21.00 on Monday. Ares Capital Co. has a one year low of $19.24 and a one year high of $22.05. The firm has a market capitalization of $13.57 billion, a P/E ratio of 8.08 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.40. The company has a fifty day moving average price of $21.00 and a 200-day moving average price of $20.95.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. During the same quarter in the previous year, the business earned $0.59 EPS. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts expect that Ares Capital Co. will post 2.37 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date is Friday, December 13th. Ares Capital’s payout ratio is 73.85%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. Compass Point upgraded Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. B. Riley increased their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. Finally, JMP Securities boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.86.

Ares Capital Company 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.