Robeco Institutional Asset Management B.V. lowered its position in shares of Ares Capital Corp. (NASDAQ:ARCC) by 8.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 330,211 shares of the investment management company’s stock after selling 30,721 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Ares Capital Corp. were worth $4,690,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of ARCC. Burgundy Asset Management Ltd. boosted its stake in shares of Ares Capital Corp. by 3.3% in the first quarter. Burgundy Asset Management Ltd. now owns 3,714,606 shares of the investment management company’s stock worth $55,125,000 after buying an additional 118,486 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in shares of Ares Capital Corp. during the second quarter worth approximately $26,128,000. Kempen Capital Management N.V. boosted its stake in shares of Ares Capital Corp. by 2.1% in the first quarter. Kempen Capital Management N.V. now owns 1,505,750 shares of the investment management company’s stock worth $22,345,000 after buying an additional 30,400 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Ares Capital Corp. by 0.7% in the first quarter. Loomis Sayles & Co. L P now owns 1,249,774 shares of the investment management company’s stock valued at $18,547,000 after buying an additional 8,642 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in Ares Capital Corp. by 18.2% in the first quarter. LPL Financial LLC now owns 1,212,534 shares of the investment management company’s stock valued at $17,958,000 after buying an additional 187,051 shares in the last quarter. Institutional investors own 49.35% of the company’s stock.
Shares of Ares Capital Corp. (NASDAQ:ARCC) traded down 0.39% during trading on Friday, reaching $15.44. The company had a trading volume of 2,609,484 shares. The stock’s 50-day moving average price is $15.70 and its 200-day moving average price is $14.90. Ares Capital Corp. has a 52 week low of $12.31 and a 52 week high of $16.43.
Ares Capital Corp. (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Ares Capital Corp. had a return on equity of 9.44% and a net margin of 41.39%. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts anticipate that Ares Capital Corp. will post $1.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.52 annualized dividend and a dividend yield of 9.84%. Ares Capital Corp.’s dividend payout ratio (DPR) is presently 113.43%.
Several analysts recently issued reports on ARCC shares. Zacks Investment Research cut Ares Capital Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. National Securities started coverage on Ares Capital Corp. in a research report on Tuesday, June 28th. They set a “neutral” rating and a $16.00 target price for the company. JMP Securities increased their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods increased their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a research report on Thursday, August 4th. Finally, Jefferies Group reiterated a “buy” rating and set a $17.50 target price on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.78.
In related news, insider Mitchell S. Goldstein acquired 6,472 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was acquired at an average price of $15.45 per share, with a total value of $99,992.40. Following the acquisition, the insider now directly owns 195,358 shares in the company, valued at approximately $3,018,281.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by insiders.
Ares Capital Corp. Company Profile
Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in the United States middle-market companies.
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