Robeco Institutional Asset Management B.V. cut its stake in Ares Capital Corp. (NASDAQ:ARCC) by 8.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC bought a new position in shares of Ares Capital Corp. during the first quarter valued at approximately $387,000. Prudential Financial Inc. increased its position in shares of Ares Capital Corp. by 323.9% in the first quarter. Prudential Financial Inc. now owns 69,095 shares of the investment management company’s stock valued at $1,025,000 after buying an additional 52,795 shares in the last quarter. Investment Centers of America Inc. increased its position in shares of Ares Capital Corp. by 4.9% in the first quarter. Investment Centers of America Inc. now owns 55,133 shares of the investment management company’s stock valued at $820,000 after buying an additional 2,569 shares in the last quarter. IFP Advisors Inc increased its position in shares of Ares Capital Corp. by 1.3% in the first quarter. IFP Advisors Inc now owns 31,740 shares of the investment management company’s stock valued at $471,000 after buying an additional 412 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Ares Capital Corp. during the first quarter valued at approximately $2,597,000. Institutional investors and hedge funds own 49.35% of the company’s stock.
Ares Capital Corp. (NASDAQ:ARCC) traded down 0.39% during mid-day trading on Friday, reaching $15.44. The company had a trading volume of 2,609,484 shares. Ares Capital Corp. has a 1-year low of $12.31 and a 1-year high of $16.43. The firm has a 50-day moving average of $15.70 and a 200 day moving average of $14.90.
Ares Capital Corp. (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, August 3rd. The investment management company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.37 earnings per share. On average, analysts forecast that Ares Capital Corp. will post $1.53 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.84%. The ex-dividend date is Tuesday, September 13th. Ares Capital Corp.’s dividend payout ratio (DPR) is presently 113.43%.
A number of analysts have recently issued reports on the company. JMP Securities lifted their price target on Ares Capital Corp. from $16.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods lifted their price target on Ares Capital Corp. from $17.00 to $17.50 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Jefferies Group reiterated a “buy” rating and set a $17.50 price target on shares of Ares Capital Corp. in a research report on Thursday, August 4th. National Securities reiterated a “neutral” rating and set a $16.00 price target on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Ares Capital Corp. from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $16.78.
In other news, insider Mitchell S. Goldstein acquired 6,472 shares of Ares Capital Corp. stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average price of $15.45 per share, for a total transaction of $99,992.40. Following the completion of the transaction, the insider now owns 195,358 shares in the company, valued at $3,018,281.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.
About Ares Capital Corp.
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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