NGAM Advisors L.P. decreased its position in Ares Capital Corporation (NASDAQ:ARCC) by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 919,864 shares of the investment management company’s stock after selling 271,517 shares during the period. NGAM Advisors L.P.’s holdings in Ares Capital Corporation were worth $15,068,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ARCC. PNC Financial Services Group Inc. increased its position in Ares Capital Corporation by 16.4% in the first quarter. PNC Financial Services Group Inc. now owns 59,220 shares of the investment management company’s stock valued at $1,029,000 after buying an additional 8,354 shares during the period. California Public Employees Retirement System increased its position in Ares Capital Corporation by 16.2% in the first quarter. California Public Employees Retirement System now owns 821,400 shares of the investment management company’s stock valued at $14,276,000 after buying an additional 114,700 shares during the period. P.A.W. Capital Corp increased its position in Ares Capital Corporation by 12.5% in the second quarter. P.A.W. Capital Corp now owns 108,000 shares of the investment management company’s stock valued at $1,769,000 after buying an additional 12,000 shares during the period. LGT Capital Partners LTD. increased its position in Ares Capital Corporation by 2.6% in the second quarter. LGT Capital Partners LTD. now owns 1,200,000 shares of the investment management company’s stock valued at $19,656,000 after buying an additional 30,000 shares during the period. Finally, Pacer Advisors Inc. increased its position in Ares Capital Corporation by 61.0% in the first quarter. Pacer Advisors Inc. now owns 70,134 shares of the investment management company’s stock valued at $1,219,000 after buying an additional 26,569 shares during the period. Institutional investors own 49.53% of the company’s stock.
Shares of Ares Capital Corporation (ARCC) opened at 15.85 on Friday. Ares Capital Corporation has a 1-year low of $15.01 and a 1-year high of $17.87. The firm has a 50-day moving average of $16.36 and a 200-day moving average of $16.92.
Ares Capital Corporation (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.02. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. The company had revenue of $284 million for the quarter, compared to the consensus estimate of $297.77 million. During the same quarter last year, the company posted $0.50 EPS. On average, equities research analysts expect that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.52 annualized dividend and a yield of 9.59%. Ares Capital Corporation’s dividend payout ratio (DPR) is currently 117.83%.
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Several analysts recently commented on ARCC shares. Zacks Investment Research cut shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Janney Montgomery Scott restated a “neutral” rating on shares of Ares Capital Corporation in a report on Monday, May 15th. BMO Capital Markets restated a “hold” rating and set a $15.00 price target on shares of Ares Capital Corporation in a report on Thursday, June 1st. BidaskClub cut shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, TheStreet cut shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $18.06.
About Ares Capital Corporation
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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