Assetmark Inc. Has $88,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Assetmark Inc. lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 361.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,999 shares of the investment management company’s stock after purchasing an additional 3,133 shares during the period. Assetmark Inc.’s holdings in Ares Capital were worth $88,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of Ares Capital during the 4th quarter worth approximately $519,000. Round Rock Advisors LLC bought a new stake in shares of Ares Capital during the 4th quarter worth approximately $1,512,000. Chicago Partners Investment Group LLC raised its stake in shares of Ares Capital by 5.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock worth $11,208,000 after purchasing an additional 25,347 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Ares Capital by 24.3% during the 3rd quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock worth $13,900,000 after purchasing an additional 127,219 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Ares Capital by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock worth $18,540,000 after purchasing an additional 38,559 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their target price on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. StockNews.com lowered Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. boosted their target price on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.94.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $21.28 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. The stock’s fifty day moving average price is $22.88 and its two-hundred day moving average price is $21.89. Ares Capital Co. has a one year low of $19.32 and a one year high of $23.84. The firm has a market cap of $14.50 billion, a price-to-earnings ratio of 8.69 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 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, equities analysts forecast that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.02%. The ex-dividend date of this dividend is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is currently 78.37%.

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.