Ares Capital Co. (NASDAQ:ARCC) is Sound Income Strategies LLC’s 2nd Largest Position

Sound Income Strategies LLC raised its holdings in Ares Capital Co. (NASDAQ:ARCC – Get Rating) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,890,546 shares of the investment management company’s stock after purchasing an additional 123,264 shares during the quarter. Ares Capital accounts for 4.4% of Sound Income Strategies LLC’s investment portfolio, making the stock its 2nd largest position. Sound Income Strategies LLC owned approximately 0.37% of Ares Capital worth $34,918,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in Ares Capital in the 3rd quarter valued at $26,000. Wagner Wealth Management LLC bought a new position in shares of Ares Capital during the 2nd quarter worth $27,000. Accurate Wealth Management LLC bought a new position in shares of Ares Capital during the 4th quarter worth $33,000. Ellis Investment Partners LLC grew its stake in shares of Ares Capital by 49.9% during the 3rd quarter. Ellis Investment Partners LLC now owns 2,082 shares of the investment management company’s stock worth $35,000 after acquiring an additional 693 shares during the period. Finally, MADDEN SECURITIES Corp bought a new position in shares of Ares Capital during the 4th quarter worth $41,000. Institutional investors own 32.24% of the company’s stock.

Analyst Ratings Changes

ARCC has been the subject of several research reports. JMP Securities reiterated a “market outperform” rating and set a $23.00 price target on shares of Ares Capital in a research note on Monday, March 13th. JPMorgan Chase & Co. dropped their price objective on Ares Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Wednesday, February 8th. StockNews.com assumed coverage on Ares Capital in a report on Thursday. They set a “hold” rating on the stock. Finally, Citigroup increased their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.71.

Ares Capital Price Performance

Shares of NASDAQ ARCC traded down $0.36 during trading hours on Friday, reaching $17.43. 5,273,243 shares of the stock traded hands, compared to its average volume of 3,542,337. The company has a market capitalization of $9.26 billion, a P/E ratio of 14.53 and a beta of 1.01. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.29. Ares Capital Co. has a 52-week low of $16.53 and a 52-week high of $22.65. The company’s 50-day simple moving average is $19.20 and its two-hundred day simple moving average is $18.93.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.02%. Ares Capital’s dividend payout ratio is 160.00%.

Ares Capital Profile

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Ares Commercial Finance provides asset-based cash flow solutions to small and middle-market companies. ACF works with borrowers to deliver creative, flexible, and comprehensive financing solutions. Ares Commercial Finance has the ability to structure and agent deals to support the growth and changing capital needs of clients.