Segment Wealth Management LLC Purchases 17,405 Shares of Ares Capital Co. (NASDAQ:ARCC)

Segment Wealth Management LLC increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 133.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,403 shares of the investment management company’s stock after acquiring an additional 17,405 shares during the period. Segment Wealth Management LLC’s holdings in Ares Capital were worth $666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JBR Co Financial Management Inc grew its holdings in shares of Ares Capital by 1.5% during the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after purchasing an additional 500 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock worth $913,000 after acquiring an additional 531 shares during the last quarter. Centaurus Financial Inc. increased its position in Ares Capital by 3.9% in the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after acquiring an additional 542 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Ares Capital by 1.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after acquiring an additional 567 shares during the last quarter. Finally, Western Financial Corp CA lifted its position in shares of Ares Capital by 2.3% during the third quarter. Western Financial Corp CA now owns 25,823 shares of the investment management company’s stock worth $541,000 after purchasing an additional 579 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the subject of a number of research reports. B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company upgraded Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 12th. Finally, StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.29.

Ares Capital Stock Up 0.8 %

NASDAQ:ARCC opened at $23.18 on Tuesday. The stock’s fifty day simple moving average is $21.97 and its 200-day simple moving average is $21.31. The firm has a market capitalization of $14.98 billion, a P/E ratio of 8.92 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.22.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. Ares Capital’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. Equities research analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.28%. The ex-dividend date was Friday, December 13th. Ares Capital’s payout ratio is presently 73.85%.

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.