Generali Asset Management SPA SGR Makes New Investment in Ares Capital Co. (NASDAQ:ARCC)

Generali Asset Management SPA SGR bought a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,856,848 shares of the investment management company’s stock, valued at approximately $84,426,000. Ares Capital accounts for 2.2% of Generali Asset Management SPA SGR’s portfolio, making the stock its 6th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Horizon Financial Services LLC acquired a new stake in shares of Ares Capital during the third quarter worth $28,000. Promus Capital LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $48,000. SRS Capital Advisors Inc. acquired a new stake in shares of Ares Capital during the fourth quarter worth $60,000. Montag A & Associates Inc. raised its holdings in shares of Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after purchasing an additional 1,389 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Ares Capital by 200.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock worth $66,000 after purchasing an additional 2,000 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of ARCC opened at $21.65 on Tuesday. The firm has a 50-day moving average price of $22.87 and a 200 day moving average price of $21.91. The firm has a market capitalization of $14.76 billion, a PE ratio of 8.84 and a beta of 1.00. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.19 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 Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a dividend yield of 8.87%. Ares Capital’s dividend payout ratio (DPR) is 78.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARCC. Royal Bank of Canada upped their price target on shares of Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company lowered their price target on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.94.

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.