Bell Bank Acquires 56,325 Shares of Ares Capital Co. (NASDAQ:ARCC)

Bell Bank lifted its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 13.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 484,052 shares of the investment management company’s stock after acquiring an additional 56,325 shares during the quarter. Ares Capital makes up about 0.8% of Bell Bank’s portfolio, making the stock its 19th biggest holding. Bell Bank owned 0.07% of Ares Capital worth $10,596,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ARCC. Horizon Financial Services LLC bought a new position in Ares Capital during the third quarter worth $28,000. Blue Trust Inc. boosted its holdings in shares of Ares Capital by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after buying an additional 909 shares during the period. Montag A & Associates Inc. boosted its holdings in shares of Ares Capital by 92.6% during the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after buying an additional 1,389 shares during the period. Farmers & Merchants Investments Inc. grew its stake in Ares Capital by 200.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock valued at $66,000 after buying an additional 2,000 shares during the last quarter. Finally, Quarry LP bought a new position in Ares Capital in the 3rd quarter valued at about $67,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Price Performance

ARCC stock opened at $23.30 on Friday. The company’s 50-day moving average price is $22.61 and its two-hundred day moving average price is $21.70. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.84. 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 market cap of $15.64 billion, a P/E ratio of 9.51 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 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, analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm 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 annualized dividend and a dividend yield of 8.24%. Ares Capital’s dividend payout ratio is currently 78.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ARCC shares. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price objective on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods upped their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.94.

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.