Pinion Investment Advisors LLC Sells 609 Shares of Ares Capital Co. (NASDAQ:ARCC)

Pinion Investment Advisors LLC reduced its stake in Ares Capital Co. (NASDAQ:ARCC) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,839 shares of the investment management company’s stock after selling 609 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Ares Capital were worth $675,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cyndeo Wealth Partners LLC increased its position in Ares Capital by 2.3% during the fourth 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 during the last quarter. Sheaff Brock Investment Advisors LLC increased its position in shares of Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company’s stock valued at $1,230,000 after purchasing an additional 512 shares during the last quarter. Western Financial Corp CA lifted its stake in shares of Ares Capital by 2.2% in the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after purchasing an additional 564 shares during the period. Koshinski Asset Management Inc. boosted its holdings in shares of Ares Capital by 1.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after buying an additional 567 shares during the last quarter. Finally, Tyche Wealth Partners LLC grew its position in Ares Capital by 3.6% during the fourth quarter. Tyche Wealth Partners LLC now owns 16,455 shares of the investment management company’s stock valued at $360,000 after buying an additional 578 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised 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. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada boosted their price objective on Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.94.

Ares Capital Trading Down 0.6 %

Ares Capital stock opened at $23.23 on Tuesday. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84. The firm’s 50 day moving average price is $22.84 and its 200-day moving average price is $21.83. 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 has a market cap of $15.60 billion, a P/E ratio of 9.48 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results 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, equities analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.48 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.27%. Ares Capital’s dividend payout ratio 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.