Plan Group Financial LLC Has $979,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Plan Group Financial LLC increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,764 shares of the investment management company’s stock after buying an additional 4,935 shares during the period. Plan Group Financial LLC’s holdings in Ares Capital were worth $979,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ARCC. RFG Advisory LLC boosted its position in Ares Capital by 10.2% during the 1st quarter. RFG Advisory LLC now owns 26,097 shares of the investment management company’s stock worth $543,000 after buying an additional 2,422 shares during the period. Sunbelt Securities Inc. lifted its position in shares of Ares Capital by 21.6% in the 1st quarter. Sunbelt Securities Inc. now owns 58,892 shares of the investment management company’s stock worth $1,226,000 after purchasing an additional 10,478 shares during the period. GoalVest Advisory LLC lifted its position in shares of Ares Capital by 6.0% in the 1st quarter. GoalVest Advisory LLC now owns 60,346 shares of the investment management company’s stock worth $1,256,000 after purchasing an additional 3,399 shares during the period. Baugh & Associates LLC lifted its position in shares of Ares Capital by 5.1% in the 1st quarter. Baugh & Associates LLC now owns 243,942 shares of the investment management company’s stock worth $5,079,000 after purchasing an additional 11,875 shares during the period. Finally, Register Financial Advisors LLC lifted its position in shares of Ares Capital by 1.7% in the 1st quarter. Register Financial Advisors LLC now owns 60,443 shares of the investment management company’s stock worth $1,258,000 after purchasing an additional 1,013 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of recent analyst reports. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. JMP Securities boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.71.

Ares Capital Stock Up 0.0 %

Ares Capital stock opened at $21.60 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 12-month low of $18.59 and a 12-month high of $21.84. The firm’s fifty day moving average is $20.90 and its 200 day moving average is $20.89. The company has a market capitalization of $13.27 billion, a PE ratio of 7.39 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same period last year, the firm earned $0.58 earnings per share. As a group, sell-side analysts predict that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

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.