Ipswich Investment Management Co. Inc. Has $261,000 Position in Ares Capital Co. (NASDAQ:ARCC)

Ipswich Investment Management Co. Inc. lowered its stake in Ares Capital Co. (NASDAQ:ARCC) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,025 shares of the investment management company’s stock after selling 1,000 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Ares Capital were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARCC. Cedar Mountain Advisors LLC acquired a new stake in shares of Ares Capital in the third quarter valued at approximately $25,000. Point72 Asset Management L.P. grew its holdings in Ares Capital by 100.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,426 shares of the investment management company’s stock worth $27,000 after acquiring an additional 181,426 shares during the period. Cape Investment Advisory Inc. grew its holdings in Ares Capital by 411.0% during the 3rd quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,570 shares during the period. Activest Wealth Management grew its holdings in Ares Capital by 137.2% during the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock worth $43,000 after acquiring an additional 1,239 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in Ares Capital by 59.3% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,351 shares of the investment management company’s stock worth $47,000 after acquiring an additional 875 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ARCC shares. Wells Fargo & Company lifted their target price on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Finally, B. Riley lowered shares of Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.80.

Ares Capital Trading Up 0.8 %

Shares of NASDAQ ARCC traded up $0.17 during midday trading on Friday, reaching $20.59. 2,427,375 shares of the stock were exchanged, compared to its average volume of 2,916,152. The business has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $19.95. The company has a market capitalization of $12.49 billion, a price-to-earnings ratio of 7.71 and a beta of 1.00. Ares Capital Co. has a 12 month low of $17.53 and a 12 month high of $20.86. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $669.78 million. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. As a group, equities research analysts expect that Ares Capital Co. will post 2.35 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.48 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.32%. Ares Capital’s dividend payout ratio is currently 71.91%.

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.