Kingsview Wealth Management LLC Decreases Stake in Ares Capital Co. (NASDAQ:ARCC)

Kingsview Wealth Management LLC trimmed its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,087 shares of the investment management company’s stock after selling 5,166 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Ares Capital were worth $1,731,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Brookstone Capital Management purchased a new position in shares of Ares Capital during the 3rd quarter valued at approximately $266,000. CWM LLC raised its holdings in Ares Capital by 7.1% in the third quarter. CWM LLC now owns 145,366 shares of the investment management company’s stock valued at $3,044,000 after acquiring an additional 9,590 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in Ares Capital by 25.0% during the 3rd quarter. Valeo Financial Advisors LLC now owns 30,009 shares of the investment management company’s stock valued at $628,000 after acquiring an additional 6,000 shares during the last quarter. Carnegie Investment Counsel grew its holdings in Ares Capital by 17.5% during the 3rd quarter. Carnegie Investment Counsel now owns 292,165 shares of the investment management company’s stock worth $6,118,000 after acquiring an additional 43,440 shares in the last quarter. Finally, Fiduciary Alliance LLC bought a new stake in shares of Ares Capital in the 3rd quarter worth about $378,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Performance

ARCC stock opened at $22.87 on Tuesday. The stock’s fifty day moving average is $22.42 and its two-hundred day moving average is $21.55. The stock has a market capitalization of $15.36 billion, a price-to-earnings ratio of 9.33 and a beta of 1.01. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.29 and a current ratio of 1.21. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84.

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%. On average, research analysts predict that Ares Capital Co. will post 2.2 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 8.40%. The ex-dividend date is Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is 78.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ARCC shares. B. Riley increased their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada raised their price objective on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.94.

About Ares Capital

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.