Farther Finance Advisors LLC Has $859,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Farther Finance Advisors LLC reduced its position in Ares Capital Co. (NASDAQ:ARCC) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,001 shares of the investment management company’s stock after selling 2,098 shares during the quarter. Farther Finance Advisors LLC’s holdings in Ares Capital were worth $859,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in shares of Ares Capital by 20.2% in the 2nd quarter. Van ECK Associates Corp now owns 11,681,109 shares of the investment management company’s stock valued at $243,434,000 after purchasing an additional 1,961,166 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Ares Capital by 2,104.7% in the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after purchasing an additional 3,449,395 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Ares Capital by 8.5% in the 2nd quarter. LPL Financial LLC now owns 3,492,247 shares of the investment management company’s stock valued at $72,778,000 after purchasing an additional 273,025 shares during the last quarter. Advisors Capital Management LLC boosted its stake in shares of Ares Capital by 7.8% in the 1st quarter. Advisors Capital Management LLC now owns 3,099,134 shares of the investment management company’s stock valued at $64,524,000 after purchasing an additional 223,245 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Ares Capital by 3.7% in the 3rd quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock valued at $46,430,000 after purchasing an additional 79,074 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Down 0.6 %

Shares of NASDAQ ARCC opened at $20.88 on Tuesday. The stock has a market capitalization of $13.49 billion, a P/E ratio of 8.03 and a beta of 1.01. The company has a 50-day moving average price of $21.00 and a 200-day moving average price of $20.95. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.05. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, equities research analysts forecast that Ares Capital Co. will post 2.37 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.20%. The ex-dividend date is Friday, December 13th. Ares Capital’s payout ratio is currently 73.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ARCC shares. JMP Securities upped their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. B. Riley raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a report on Monday, August 5th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a report on Friday, August 23rd. Finally, Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Company 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.