Ares Capital Co. (ARCC) Holdings Lifted by Standard Life Aberdeen plc
Standard Life Aberdeen plc grew its position in Ares Capital Co. (NASDAQ:ARCC) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,069,117 shares of the investment management company’s stock after buying an additional 27,913 shares during the quarter. Standard Life Aberdeen plc’s holdings in Ares Capital were worth $18,384,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden Gate Private Equity Inc. lifted its position in shares of Ares Capital by 9.0% in the second quarter. Golden Gate Private Equity Inc. now owns 422,000 shares of the investment management company’s stock worth $6,942,000 after purchasing an additional 35,000 shares in the last quarter. Northeast Financial Consultants Inc lifted its position in shares of Ares Capital by 58.5% in the third quarter. Northeast Financial Consultants Inc now owns 45,100 shares of the investment management company’s stock worth $775,000 after purchasing an additional 16,650 shares in the last quarter. V Wealth Management LLC lifted its position in shares of Ares Capital by 10.0% in the third quarter. V Wealth Management LLC now owns 53,464 shares of the investment management company’s stock worth $922,000 after purchasing an additional 4,877 shares in the last quarter. Selective Wealth Management purchased a new stake in shares of Ares Capital in the third quarter worth approximately $505,000. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of Ares Capital by 1,069.1% in the third quarter. Steward Partners Investment Advisory LLC now owns 120,354 shares of the investment management company’s stock worth $2,069,000 after purchasing an additional 110,059 shares in the last quarter. Institutional investors own 39.45% of the company’s stock.
In related news, CFO Penelope F. Roll sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $16.76, for a total transaction of $100,560.00. Following the transaction, the chief financial officer now owns 11,147 shares of the company’s stock, valued at $186,823.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Eric B. Siegel acquired 6,990 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were acquired at an average cost of $17.30 per share, for a total transaction of $120,927.00. Following the transaction, the director now owns 36,630 shares of the company’s stock, valued at approximately $633,699. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 7,590 shares of company stock worth $131,039. Insiders own 0.49% of the company’s stock.
Shares of ARCC opened at $16.92 on Thursday. The company has a market cap of $7.21 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 3.46 and a beta of 0.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.41 and a current ratio of 2.41. Ares Capital Co. has a twelve month low of $15.03 and a twelve month high of $17.63.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, October 31st. The investment management company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.05. The firm had revenue of $342.00 million for the quarter, compared to analyst estimates of $320.15 million. Ares Capital had a net margin of 72.13% and a return on equity of 9.34%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. Analysts predict that Ares Capital Co. will post 1.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 9.22%. The ex-dividend date of this dividend is Thursday, December 13th. Ares Capital’s payout ratio is presently 112.23%.
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.
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