Vaughan Nelson Investment Management L.P. lowered its position in Ares Capital (NASDAQ:ARCC) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,844,687 shares of the investment management company’s stock after selling 14,500 shares during the quarter. Ares Capital makes up approximately 1.1% of Vaughan Nelson Investment Management L.P.’s holdings, making the stock its 15th biggest position. Vaughan Nelson Investment Management L.P. owned about 1.37% of Ares Capital worth $92,755,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ARCC. Arrowstreet Capital Limited Partnership lifted its position in shares of Ares Capital by 118.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,600,653 shares of the investment management company’s stock worth $72,322,000 after buying an additional 2,494,297 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Ares Capital by 1,217.0% in the fourth quarter. Two Sigma Investments LP now owns 1,739,696 shares of the investment management company’s stock worth $27,348,000 after buying an additional 1,607,603 shares during the last quarter. CNO Financial Group Inc. acquired a new stake in shares of Ares Capital in the first quarter worth about $12,145,000. PL Capital Advisors LLC acquired a new stake in shares of Ares Capital in the first quarter worth about $5,555,000. Finally, Algebris UK Ltd acquired a new stake in shares of Ares Capital in the first quarter worth about $5,126,000. Hedge funds and other institutional investors own 41.27% of the company’s stock.
NASDAQ ARCC opened at $16.67 on Tuesday. Ares Capital has a twelve month low of $15.03 and a twelve month high of $16.96. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. The stock has a market cap of $7.06 billion, a P/E ratio of 11.99, a price-to-earnings-growth ratio of 3.48 and a beta of 0.58.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, May 2nd. The investment management company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $309.81 million. Ares Capital had a return on equity of 8.80% and a net margin of 65.81%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. analysts expect that Ares Capital will post 1.59 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.52 annualized dividend and a yield of 9.12%. Ares Capital’s dividend payout ratio (DPR) is 109.35%.
ARCC has been the subject of several research analyst reports. ValuEngine cut Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. BidaskClub raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. National Securities reissued a “buy” rating and set a $19.00 price objective on shares of Ares Capital in a research report on Monday, March 26th. Zacks Investment Research cut Ares Capital from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, JPMorgan Chase boosted their price objective on Ares Capital from $16.50 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Ares Capital presently has an average rating of “Buy” and a consensus target price of $17.91.
In other news, insider Michael J. Arougheti purchased 25,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was purchased at an average price of $15.60 per share, with a total value of $390,000.00. Following the acquisition, the insider now directly owns 984,535 shares in the company, valued at approximately $15,358,746. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 25,600 shares of company stock valued at $399,574. Insiders own 0.49% of the company’s stock.
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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