Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 196.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,440 shares of the investment management company’s stock after buying an additional 2,940 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Ares Capital were worth $75,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ARCC. Core Wealth Advisors Inc. acquired a new position in shares of Ares Capital during the fourth quarter worth approximately $25,000. Montag A & Associates Inc. acquired a new position in shares of Ares Capital during the fourth quarter worth approximately $25,000. Tompkins Financial Corp acquired a new position in shares of Ares Capital during the fourth quarter worth approximately $36,000. Perigon Wealth Management LLC acquired a new position in shares of Ares Capital during the fourth quarter worth approximately $37,000. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Ares Capital during the fourth quarter valued at approximately $39,000. Institutional investors own 31.33% of the company’s stock.
Shares of ARCC stock opened at $19.20 on Thursday. The stock’s fifty day moving average is $18.52 and its 200-day moving average is $16.61. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $8.39 billion, a PE ratio of 25.60 and a beta of 1.20. Ares Capital Co. has a 52 week low of $11.01 and a 52 week high of $19.27.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 8.33%. The ex-dividend date was Friday, March 12th. Ares Capital’s payout ratio is presently 84.66%.
A number of research firms have recently issued reports on ARCC. Barclays cut Ares Capital from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Thursday, December 10th. Zacks Investment Research cut Ares Capital from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Thursday, March 11th. JPMorgan Chase & Co. boosted their price objective on Ares Capital from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, March 17th. Raymond James boosted their price objective on Ares Capital from $17.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 11th. Finally, Citigroup boosted their price objective on Ares Capital from $17.00 to $20.00 in a research report on Thursday, February 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $17.81.
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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