iA Global Asset Management Inc. Purchases 410,667 Shares of Ares Capital Corporation $ARCC

iA Global Asset Management Inc. lifted its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 100.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 819,236 shares of the investment management company’s stock after purchasing an additional 410,667 shares during the period. iA Global Asset Management Inc. owned 0.12% of Ares Capital worth $17,990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Palogic Value Management L.P. increased its stake in shares of Ares Capital by 1.3% during the second quarter. Palogic Value Management L.P. now owns 108,124 shares of the investment management company’s stock worth $2,374,000 after purchasing an additional 1,359 shares during the period. Mission Wealth Management LP grew its position in Ares Capital by 23.9% during the second quarter. Mission Wealth Management LP now owns 11,209 shares of the investment management company’s stock worth $246,000 after buying an additional 2,160 shares in the last quarter. Bridgewealth Advisory Group LLC acquired a new stake in Ares Capital during the second quarter worth approximately $282,000. IFG Advisory LLC grew its position in Ares Capital by 21.3% during the second quarter. IFG Advisory LLC now owns 50,579 shares of the investment management company’s stock worth $1,111,000 after buying an additional 8,868 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its position in Ares Capital by 10.0% during the second quarter. Mesirow Financial Investment Management Inc. now owns 255,619 shares of the investment management company’s stock worth $5,613,000 after buying an additional 23,164 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Ares Capital in a research report on Thursday. Wells Fargo & Company reduced their price target on Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday. B. Riley raised Ares Capital from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods reduced their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group reduced their price target on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Ares Capital Stock Up 1.0%

Shares of ARCC opened at $20.35 on Friday. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The stock has a market capitalization of $14.57 billion, a price-to-earnings ratio of 10.18 and a beta of 0.68. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20. The stock has a fifty day moving average of $20.88 and a 200-day moving average of $21.55.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $766.48 million. During the same period in the prior year, the company earned $0.58 EPS. Ares Capital’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date is Monday, December 15th. Ares Capital’s dividend payout ratio is presently 96.00%.

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.