Prevail Innovative Wealth Advisors LLC Has $2.88 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Prevail Innovative Wealth Advisors LLC reduced its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 131,407 shares of the investment management company’s stock after selling 3,161 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Ares Capital were worth $2,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in shares of Ares Capital by 25.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 222,101 shares of the investment management company’s stock worth $4,651,000 after acquiring an additional 44,548 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Ares Capital by 331.6% in the third quarter. BNP Paribas Financial Markets now owns 178,224 shares of the investment management company’s stock worth $3,732,000 after purchasing an additional 136,927 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Ares Capital by 11.1% during the third quarter. CreativeOne Wealth LLC now owns 41,408 shares of the investment management company’s stock valued at $867,000 after buying an additional 4,137 shares during the last quarter. Financial Counselors Inc. lifted its stake in Ares Capital by 3.4% during the 3rd quarter. Financial Counselors Inc. now owns 34,031 shares of the investment management company’s stock valued at $713,000 after acquiring an additional 1,110 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Ares Capital during the 3rd quarter worth $1,547,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of Ares Capital stock opened at $22.11 on Friday. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of 9.02 and a beta of 1.00. The company has a fifty day moving average of $22.80 and a 200-day moving average of $21.98. Ares Capital Co. has a 52-week low of $19.32 and a 52-week high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21.

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%. Equities research analysts expect that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company 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. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.68%. Ares Capital’s dividend payout ratio is currently 78.37%.

Analyst Ratings Changes

ARCC has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target 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. upped their target price on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. StockNews.com downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.94.

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.