Naviter Wealth LLC Has $19.50 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

Naviter Wealth LLC grew its stake in Ares Capital Co. (NASDAQ:ARCC) by 21.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 973,272 shares of the investment management company’s stock after purchasing an additional 174,989 shares during the quarter. Ares Capital comprises about 3.9% of Naviter Wealth LLC’s holdings, making the stock its 3rd biggest holding. Naviter Wealth LLC’s holdings in Ares Capital were worth $19,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ARCC. Valeo Financial Advisors LLC raised its holdings in Ares Capital by 95.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 24,009 shares of the investment management company’s stock worth $467,000 after purchasing an additional 11,750 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Ares Capital by 7.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 32,987 shares of the investment management company’s stock worth $642,000 after acquiring an additional 2,238 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in shares of Ares Capital in the 3rd quarter worth about $25,000. All Season Financial Advisors Inc. increased its stake in shares of Ares Capital by 5.0% in the 3rd quarter. All Season Financial Advisors Inc. now owns 33,563 shares of the investment management company’s stock worth $653,000 after acquiring an additional 1,608 shares in the last quarter. Finally, Balboa Wealth Partners increased its stake in shares of Ares Capital by 22.1% in the 3rd quarter. Balboa Wealth Partners now owns 38,055 shares of the investment management company’s stock worth $741,000 after acquiring an additional 6,900 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

Shares of NASDAQ ARCC traded up $0.09 during trading on Monday, reaching $20.87. 1,777,989 shares of the company traded hands, compared to its average volume of 3,524,787. The firm has a 50 day simple moving average of $20.36 and a 200-day simple moving average of $20.02. 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 stock has a market capitalization of $12.66 billion, a PE ratio of 7.78 and a beta of 1.00. Ares Capital Co. has a 52-week low of $17.53 and a 52-week high of $20.94.

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

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.20%. The ex-dividend date was Thursday, March 14th. Ares Capital’s payout ratio is 71.91%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price target for the company. in a research note on Monday, January 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a research note on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Ares Capital has an average rating of “Hold” and an average target price of $20.80.

About Ares Capital

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.