Mandatum Life Insurance Co Ltd Has $691,000 Stake in Ares Capital Co. (NASDAQ:ARCC)

Mandatum Life Insurance Co Ltd increased its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 12.8% during the fourth quarter, Holdings Channel reports. The fund owned 31,582 shares of the investment management company’s stock after acquiring an additional 3,581 shares during the quarter. Mandatum Life Insurance Co Ltd’s holdings in Ares Capital were worth $691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in shares of Ares Capital by 24.3% in the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock valued at $13,900,000 after purchasing an additional 127,219 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Ares Capital by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock valued at $18,540,000 after buying an additional 38,559 shares during the last quarter. CCLA Investment Management raised its holdings in Ares Capital by 31.6% in the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company’s stock valued at $48,419,000 after acquiring an additional 531,305 shares during the period. Confluence Investment Management LLC lifted its holdings in Ares Capital by 1.7% during the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock worth $80,338,000 after purchasing an additional 63,999 shares during the last quarter. Finally, Cypress Wealth Services LLC bought a new stake in Ares Capital in the 4th quarter valued at $403,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. B. Riley boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.29.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $23.18 on Monday. The firm has a 50 day moving average of $21.94 and a 200-day moving average of $21.29. The stock has a market capitalization of $14.98 billion, a PE ratio of 8.92 and a beta of 1.00. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.22.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. During the same period in the prior year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date of this dividend was Friday, December 13th. Ares Capital’s dividend payout ratio is presently 73.85%.

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.