Choreo LLC Buys 689 Shares of Ares Capital Co. (NASDAQ:ARCC)

Choreo LLC raised its stake in Ares Capital Co. (NASDAQ:ARCC) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,035 shares of the investment management company’s stock after buying an additional 689 shares during the period. Choreo LLC’s holdings in Ares Capital were worth $505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cyndeo Wealth Partners LLC boosted its holdings in shares of Ares Capital by 2.3% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock valued at $419,000 after acquiring an additional 430 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its position in Ares Capital by 1.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after purchasing an additional 531 shares during the last quarter. Western Financial Corp CA boosted its stake in shares of Ares Capital by 2.2% during the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock valued at $578,000 after purchasing an additional 564 shares in the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of Ares Capital by 1.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after purchasing an additional 567 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Ares Capital by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 10,842 shares of the investment management company’s stock valued at $227,000 after buying an additional 629 shares during the period. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Royal Bank of Canada raised their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price target on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Price Performance

ARCC stock opened at $22.70 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a market cap of $15.24 billion, a price-to-earnings ratio of 9.27 and a beta of 1.01. The company’s fifty day simple moving average is $22.43 and its 200 day simple moving average is $21.56. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, analysts expect that Ares Capital Co. will post 2.2 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.46%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

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.