RNC Capital Management LLC lessened its stake in Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 62.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,832 shares of the investment management company’s stock after selling 21,500 shares during the period. RNC Capital Management LLC’s holdings in Ares Capital were worth $237,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Ares Capital during the third quarter worth $26,000. Wagner Wealth Management LLC acquired a new stake in Ares Capital in the second quarter worth about $27,000. Ellis Investment Partners LLC raised its holdings in Ares Capital by 49.9% during the 3rd quarter. Ellis Investment Partners LLC now owns 2,082 shares of the investment management company’s stock worth $35,000 after purchasing an additional 693 shares during the last quarter. Ronald Blue Trust Inc. lifted its position in Ares Capital by 169.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,349 shares of the investment management company’s stock valued at $42,000 after purchasing an additional 1,478 shares during the period. Finally, Covington Capital Management boosted its stake in shares of Ares Capital by 89.0% in the 3rd quarter. Covington Capital Management now owns 4,036 shares of the investment management company’s stock valued at $68,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 32.24% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on ARCC shares. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Wednesday, February 8th. StockNews.com began coverage on shares of Ares Capital in a research report on Thursday. They set a “hold” rating for the company. Citigroup raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $23.00 price objective on shares of Ares Capital in a report on Monday, March 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus target price of $20.71.
Ares Capital Price Performance
Ares Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $1.92 dividend on an annualized basis and a yield of 11.02%. Ares Capital’s payout ratio is 160.00%.
Ares Capital Company Profile
Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.
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