AA Financial Advisors LLC Sells 471 Shares of Ares Capital Co. (NASDAQ:ARCC)

AA Financial Advisors LLC lowered its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.6% in the third quarter, Holdings Channel reports. The institutional investor owned 28,975 shares of the investment management company’s stock after selling 471 shares during the period. AA Financial Advisors LLC’s holdings in Ares Capital were worth $607,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. RFG Advisory LLC raised its holdings in Ares Capital by 10.2% in the 1st quarter. RFG Advisory LLC now owns 26,097 shares of the investment management company’s stock valued at $543,000 after acquiring an additional 2,422 shares in the last quarter. Global Assets Advisory LLC grew its holdings in shares of Ares Capital by 2,049.3% during the 1st quarter. Global Assets Advisory LLC now owns 278,079 shares of the investment management company’s stock worth $5,790,000 after purchasing an additional 265,141 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Ares Capital by 5.4% during the first quarter. Sound Income Strategies LLC now owns 2,060,063 shares of the investment management company’s stock valued at $42,891,000 after purchasing an additional 105,277 shares during the period. CIC Wealth LLC raised its stake in shares of Ares Capital by 38.2% in the first quarter. CIC Wealth LLC now owns 19,282 shares of the investment management company’s stock valued at $401,000 after purchasing an additional 5,326 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Ares Capital by 21.6% in the first quarter. Sunbelt Securities Inc. now owns 58,892 shares of the investment management company’s stock worth $1,226,000 after purchasing an additional 10,478 shares during the period. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $21.65 on Friday. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 7.41 and a beta of 1.01. The firm’s 50-day moving average price is $20.86 and its two-hundred day moving average price is $20.87. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 1-year low of $18.55 and a 1-year high of $21.84.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same period in the prior year, the company earned $0.58 EPS. On average, equities analysts predict that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.87%. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARCC. JMP Securities boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, Compass Point upgraded Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.71.

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.