Carnegie Investment Counsel Has $6.76 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Carnegie Investment Counsel raised its holdings in Ares Capital Co. (NASDAQ:ARCC) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 309,022 shares of the investment management company’s stock after acquiring an additional 16,857 shares during the period. Carnegie Investment Counsel’s holdings in Ares Capital were worth $6,764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Horizon Financial Services LLC acquired a new stake in shares of Ares Capital during the third quarter worth $28,000. Blue Trust Inc. boosted its position in shares of Ares Capital by 56.8% during the third quarter. Blue Trust Inc. now owns 2,510 shares of the investment management company’s stock worth $52,000 after buying an additional 909 shares during the period. Quarry LP bought a new position in shares of Ares Capital during the third quarter worth about $67,000. Centennial Bank AR acquired a new stake in Ares Capital in the 3rd quarter valued at approximately $102,000. Finally, FSC Wealth Advisors LLC boosted its position in Ares Capital by 562.5% during the 3rd quarter. FSC Wealth Advisors LLC now owns 5,300 shares of the investment management company’s stock worth $111,000 after acquiring an additional 4,500 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Trading Up 0.8 %

Ares Capital stock opened at $23.18 on Friday. The stock has a 50-day simple moving average of $21.94 and a 200 day simple moving average of $21.29. The stock 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 debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital Co. has a 52 week low of $19.32 and a 52 week high of $23.22.

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

Ares Capital Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently issued reports on ARCC shares. StockNews.com upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. B. Riley increased their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 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’s stock. According to MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and a consensus price target of $22.29.

Ares Capital Company Profile

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.