LGT Capital Partners LTD. Has $19.02 Million Stake in Ares Capital Co. (ARCC)

LGT Capital Partners LTD. lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,209,842 shares of the investment management company’s stock after buying an additional 79,842 shares during the quarter. Ares Capital makes up about 1.8% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 22nd largest holding. LGT Capital Partners LTD.’s holdings in Ares Capital were worth $19,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Legacy Advisors LLC acquired a new stake in shares of Ares Capital during the third quarter worth approximately $128,000. Harvest Capital Management Inc acquired a new stake in shares of Ares Capital during the fourth quarter worth approximately $162,000. Joel Isaacson & Co. LLC acquired a new stake in shares of Ares Capital during the third quarter worth approximately $164,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Ares Capital during the third quarter worth approximately $167,000. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of Ares Capital during the second quarter worth approximately $180,000. 43.60% of the stock is owned by institutional investors and hedge funds.

In other news, Director Michael J. Arougheti purchased 8,365 shares of Ares Capital stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $15.85 per share, with a total value of $132,585.25. Following the completion of the acquisition, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 8,965 shares of company stock valued at $142,315. Corporate insiders own 0.45% of the company’s stock.

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital and gave the stock a “buy” rating in a research report on Friday, October 6th. TheStreet raised shares of Ares Capital from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Wedbush assumed coverage on shares of Ares Capital in a report on Monday, November 27th. They issued an “outperform” rating and a $18.00 price objective for the company. Finally, BidaskClub downgraded shares of Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $18.00.

Ares Capital Co. (ARCC) traded up $0.10 during trading on Thursday, reaching $15.95. 647,008 shares of the company’s stock were exchanged, compared to its average volume of 1,800,414. The firm has a market capitalization of $6,790.00, a P/E ratio of 12.66, a PEG ratio of 3.36 and a beta of 0.63. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Co. has a 1 year low of $15.60 and a 1 year high of $17.87.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $294.00 million during the quarter, compared to the consensus estimate of $295.02 million. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. During the same quarter in the previous year, the company posted $0.43 earnings per share. research analysts predict that Ares Capital Co. will post 1.38 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.53%. The ex-dividend date of this dividend was Thursday, December 14th. Ares Capital’s dividend payout ratio (DPR) is 120.63%.

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About Ares Capital

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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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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