Venturi Wealth Management LLC grew its holdings in Ares Capital (NASDAQ:ARCC) by 13.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,651 shares of the investment management company’s stock after purchasing an additional 18,776 shares during the period. Venturi Wealth Management LLC’s holdings in Ares Capital were worth $2,534,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Two Sigma Advisers LP increased its holdings in shares of Ares Capital by 43.8% in the 4th quarter. Two Sigma Advisers LP now owns 955,455 shares of the investment management company’s stock worth $15,020,000 after purchasing an additional 291,000 shares in the last quarter. Green Square Capital LLC boosted its stake in shares of Ares Capital by 2.2% in the 4th quarter. Green Square Capital LLC now owns 390,489 shares of the investment management company’s stock worth $6,138,000 after buying an additional 8,536 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Ares Capital in the 4th quarter worth $223,000. Frontier Investment Mgmt Co. boosted its stake in shares of Ares Capital by 6.1% in the 4th quarter. Frontier Investment Mgmt Co. now owns 741,767 shares of the investment management company’s stock worth $11,661,000 after buying an additional 42,662 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Ares Capital by 3.0% in the 4th quarter. California Public Employees Retirement System now owns 922,100 shares of the investment management company’s stock worth $14,495,000 after buying an additional 26,600 shares during the last quarter. 42.77% of the stock is owned by institutional investors and hedge funds.
Shares of Ares Capital stock opened at $16.60 on Thursday. Ares Capital has a 52 week low of $16.49 and a 52 week high of $16.54. The stock has a market capitalization of $7.05 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 3.47 and a beta of 0.58. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.52 annualized dividend and a dividend yield of 9.16%. Ares Capital’s dividend payout ratio (DPR) is 109.35%.
In other news, insider Michael J. Arougheti bought 25,000 shares of Ares Capital stock in a transaction dated Thursday, March 15th. The shares were purchased at an average cost of $15.60 per share, with a total value of $390,000.00. Following the completion of the acquisition, the insider now owns 984,535 shares of the company’s stock, valued at approximately $15,358,746. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 25,600 shares of company stock worth $399,574 over the last ninety days. Insiders own 0.49% of the company’s stock.
A number of research firms have recently issued reports on ARCC. ValuEngine downgraded Ares Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. BidaskClub upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. National Securities restated a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a research note on Monday, March 26th. Zacks Investment Research downgraded Ares Capital from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, JPMorgan Chase raised their price target on Ares Capital from $16.50 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 11th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $17.91.
Ares Capital Profile
Ares Capital Corporation is a specialty finance company. The Company operates as 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. It invests primarily in the United States middle-market companies.
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