Recent trading activity shows that several major investors have adjusted their positions in Ares Capital (ARCC). Notably, Jamison Private Wealth Management increased its investment by 62.7%, acquiring 1,233 shares. Asset Dedication and Hobbs Group Advisors also bought new shares, valuing their stakes at $26,000 and $32,000, respectively. Valley National Advisers grew their investment significantly by 323.3%. Overall, institutional investors hold 27.38% of Ares Capitals stock.
Ares Capital Stock Performance
Ares Capital’s stock rose by 0.3% to $21.08 on Thursday, with a trading volume of 1.89 million shares. The companys market cap is $12.95 billion, with a P/E ratio of 7.22. The stock’s 12-month range is $18.55 to $21.84.
Recent Earnings
On July 30, Ares Capital reported earnings of $0.61 per share, surpassing expectations of $0.58. Revenue for the quarter was $755 million, also exceeding analyst estimates of $714 million.
Dividend Announcement
Ares Capital declared a quarterly dividend of $0.48 per share, paid on September 30, with an annual yield of 9.11% and a payout ratio of 65.75%.
Analysts’ Ratings and Predictions
Analysts have positive sentiments towards Ares Capital. Royal Bank of Canada set a target price of $22, and multiple firms have given it a buy or strong buy rating. The consensus rating is Moderate Buy with a target price of $21.71.
Company Overview
Ares Capital Corporation focuses on investing in middle-market companies through various financial strategies like acquisition and growth capital. It targets sectors such as manufacturing and healthcare.
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