Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in Ares Capital Co. (NASDAQ:ARCC) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,536,133 shares of the investment management company’s stock after acquiring an additional 157,251 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.27% of Ares Capital worth $30,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Ares Capital by 1,865.8% during the 4th quarter. International Assets Investment Management LLC now owns 4,214,991 shares of the investment management company’s stock worth $844,260,000 after purchasing an additional 4,000,570 shares during the period. Van ECK Associates Corp grew its stake in shares of Ares Capital by 11.3% in the fourth quarter. Van ECK Associates Corp now owns 8,282,079 shares of the investment management company’s stock valued at $165,890,000 after buying an additional 840,823 shares in the last quarter. Melia Wealth LLC purchased a new stake in shares of Ares Capital during the 4th quarter valued at about $13,992,000. Tudor Investment Corp Et Al acquired a new position in Ares Capital during the 3rd quarter worth approximately $11,952,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Ares Capital by 484.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 699,265 shares of the investment management company’s stock worth $13,615,000 after acquiring an additional 579,582 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of NASDAQ ARCC traded up $0.15 during trading on Friday, reaching $21.35. The stock had a trading volume of 1,933,749 shares, compared to its average volume of 3,541,835. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $13.12 billion, a PE ratio of 7.31 and a beta of 0.99. Ares Capital Co. has a one year low of $18.00 and a one year high of $21.53. The firm’s 50 day moving average price is $20.66 and its two-hundred day moving average price is $20.28.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 annualized dividend and a yield of 8.99%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a report on Thursday. Oppenheimer raised their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their price target on Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

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.