CIBC Private Wealth Group LLC Has $9.80 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

CIBC Private Wealth Group LLC grew its holdings in Ares Capital Co. (NASDAQ:ARCC) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 443,747 shares of the investment management company’s stock after purchasing an additional 3,741 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.07% of Ares Capital worth $9,802,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. IPG Investment Advisors LLC lifted its holdings in shares of Ares Capital by 10.4% during the fourth quarter. IPG Investment Advisors LLC now owns 13,829 shares of the investment management company’s stock worth $303,000 after buying an additional 1,300 shares during the last quarter. Palogic Value Management L.P. raised its stake in Ares Capital by 5.0% during the 4th quarter. Palogic Value Management L.P. now owns 104,565 shares of the investment management company’s stock valued at $2,289,000 after purchasing an additional 4,970 shares during the last quarter. Maridea Wealth Management LLC bought a new stake in Ares Capital in the 4th quarter valued at $686,000. Brown Brothers Harriman & Co. grew its position in Ares Capital by 16.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 36,159 shares of the investment management company’s stock worth $792,000 after purchasing an additional 4,980 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its holdings in shares of Ares Capital by 0.7% during the 4th quarter. Providence Capital Advisors LLC now owns 153,385 shares of the investment management company’s stock worth $3,358,000 after purchasing an additional 1,126 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Up 0.6 %

Shares of ARCC stock opened at $22.29 on Wednesday. The company has a market capitalization of $15.26 billion, a P/E ratio of 9.10 and a beta of 1.00. Ares Capital Co. has a 12-month low of $19.32 and a 12-month high of $23.84. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a 50-day moving average price of $22.76 and a 200 day moving average price of $22.01.

Ares Capital (NASDAQ:ARCC) last posted its 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%. Research analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.61%. The ex-dividend date of this dividend was Friday, March 14th. Ares Capital’s payout ratio is presently 78.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. 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 lifted their price objective on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a research note 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 research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.