Ipswich Investment Management Co. Inc. Has $261,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Ipswich Investment Management Co. Inc. reduced its holdings in Ares Capital Co. (NASDAQ:ARCC) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 13,025 shares of the investment management company’s stock after selling 1,000 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Ares Capital were worth $261,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Onyx Bridge Wealth Group LLC increased its position in shares of Ares Capital by 2.3% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 42,777 shares of the investment management company’s stock worth $857,000 after buying an additional 980 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $261,000. Lafayette Investments Inc. increased its position in shares of Ares Capital by 14.9% during the fourth quarter. Lafayette Investments Inc. now owns 23,080 shares of the investment management company’s stock worth $462,000 after buying an additional 3,000 shares during the period. Obermeyer Wood Investment Counsel Lllp increased its position in shares of Ares Capital by 11.5% during the fourth quarter. Obermeyer Wood Investment Counsel Lllp now owns 46,135 shares of the investment management company’s stock worth $924,000 after buying an additional 4,762 shares during the period. Finally, Sfmg LLC increased its position in shares of Ares Capital by 2.6% during the fourth quarter. Sfmg LLC now owns 398,112 shares of the investment management company’s stock worth $7,974,000 after buying an additional 10,080 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ARCC. B. Riley cut shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective for the company. in a research report on Monday, January 8th. Wells Fargo & Company raised their price target on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Ares Capital presently has a consensus rating of “Hold” and a consensus price target of $20.80.

Ares Capital Stock Up 0.8 %

NASDAQ:ARCC traded up $0.17 during trading hours on Friday, reaching $20.59. The company had a trading volume of 2,427,375 shares, compared to its average volume of 2,916,152. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 7.71 and a beta of 1.00. The business’s 50-day simple moving average is $20.31 and its two-hundred day simple moving average is $19.95. Ares Capital Co. has a twelve month low of $17.53 and a twelve month high of $20.86.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The business had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $669.78 million. During the same period last year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts expect that Ares Capital Co. will post 2.35 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date of this dividend was Thursday, March 14th. Ares Capital’s dividend payout ratio (DPR) is 71.91%.

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.