Grimes & Company Inc. Has $386,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Grimes & Company Inc. raised its holdings in Ares Capital Co. (NASDAQ:ARCC) by 33.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,625 shares of the investment management company’s stock after acquiring an additional 4,408 shares during the quarter. Grimes & Company Inc.’s holdings in Ares Capital were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Cyndeo Wealth Partners LLC boosted its stake in shares of Ares Capital by 2.3% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after purchasing an additional 430 shares during the last quarter. JBR Co Financial Management Inc boosted its stake in shares of Ares Capital by 1.5% in the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after purchasing an additional 500 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its stake in shares of Ares Capital by 1.2% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after purchasing an additional 531 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of 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 purchasing an additional 542 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Ares Capital by 1.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock valued at $812,000 after purchasing an additional 567 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Performance

ARCC opened at $23.43 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The company’s fifty day moving average price is $22.12 and its two-hundred day moving average price is $21.37. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.53. The company has a market cap of $15.14 billion, a price-to-earnings ratio of 9.01 and a beta of 1.00.

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

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.19%. Ares Capital’s payout ratio is 73.85%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. Finally, B. Riley increased their target price 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. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital 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.