Western Financial Corp CA Has $541,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Western Financial Corp CA lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,823 shares of the investment management company’s stock after acquiring an additional 579 shares during the quarter. Western Financial Corp CA’s holdings in Ares Capital were worth $541,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. RFG Advisory LLC increased its stake in Ares Capital by 10.2% during the 1st quarter. RFG Advisory LLC now owns 26,097 shares of the investment management company’s stock worth $543,000 after purchasing an additional 2,422 shares in the last quarter. Global Assets Advisory LLC lifted its stake in shares of Ares Capital by 2,049.3% during the 1st quarter. Global Assets Advisory LLC now owns 278,079 shares of the investment management company’s stock worth $5,790,000 after buying an additional 265,141 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of Ares Capital by 5.4% during the first quarter. Sound Income Strategies LLC now owns 2,060,063 shares of the investment management company’s stock worth $42,891,000 after purchasing an additional 105,277 shares during the period. CIC Wealth LLC boosted its position in shares of Ares Capital by 38.2% in the first quarter. CIC Wealth LLC now owns 19,282 shares of the investment management company’s stock valued at $401,000 after acquiring an additional 5,326 shares during the period. Finally, Sunbelt Securities Inc. increased its holdings in shares of Ares Capital by 21.6% during the first quarter. Sunbelt Securities Inc. now owns 58,892 shares of the investment management company’s stock worth $1,226,000 after purchasing an additional 10,478 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Up 0.6 %

Shares of ARCC traded up $0.12 on Monday, hitting $21.77. 1,571,023 shares of the stock traded hands, compared to its average volume of 3,397,843. The company has a market capitalization of $13.38 billion, a PE ratio of 7.41 and a beta of 1.01. Ares Capital Co. has a one year low of $18.55 and a one year high of $21.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. The business has a 50 day simple moving average of $20.86 and a 200 day simple moving average of $20.87.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period in the previous year, the firm earned $0.58 EPS. As a group, equities analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date was Friday, September 13th. Ares Capital’s payout ratio is 65.75%.

Analyst Upgrades and Downgrades

ARCC has been the topic of a number of recent analyst reports. Compass Point upgraded Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. JMP Securities upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

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.