Plan Group Financial LLC Acquires 4,935 Shares of Ares Capital Co. (NASDAQ:ARCC)

Plan Group Financial LLC grew its position in Ares Capital Co. (NASDAQ:ARCC) by 11.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,764 shares of the investment management company’s stock after purchasing an additional 4,935 shares during the period. Plan Group Financial LLC’s holdings in Ares Capital were worth $979,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ARCC. Jamison Private Wealth Management Inc. raised its holdings in shares of Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after purchasing an additional 475 shares during the last quarter. Asset Dedication LLC purchased a new stake in Ares Capital during the second quarter worth about $26,000. Valley National Advisers Inc. increased its holdings in Ares Capital by 323.3% during the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after buying an additional 1,096 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Ares Capital during the second quarter worth about $32,000. Finally, nVerses Capital LLC increased its holdings in Ares Capital by 88.9% during the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock worth $35,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $21.60 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $13.27 billion, a PE ratio of 7.39 and a beta of 1.01. Ares Capital Co. has a twelve month low of $18.59 and a twelve month high of $21.84. The company has a 50-day moving average price of $20.90 and a two-hundred day moving average price of $20.89.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same quarter last year, the business earned $0.58 earnings per share. Equities analysts forecast that Ares Capital Co. will post 2.39 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.89%. Ares Capital’s dividend payout ratio (DPR) is currently 65.75%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. JMP Securities raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.71.

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.