Public Employees Retirement System of Ohio Has $3,553,000 Position in Ares Capital Corporation (ARCC)

Public Employees Retirement System of Ohio continued to hold its position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 216,900 shares of the investment management company’s stock at the end of the second quarter. Public Employees Retirement System of Ohio’s holdings in Ares Capital Corporation were worth $3,553,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Ares Capital Corporation by 174.6% in the second quarter. Principal Financial Group Inc. now owns 5,725,346 shares of the investment management company’s stock valued at $93,782,000 after purchasing an additional 3,640,124 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Ares Capital Corporation by 1.5% in the second quarter. Ameriprise Financial Inc. now owns 5,495,584 shares of the investment management company’s stock valued at $90,020,000 after purchasing an additional 78,599 shares in the last quarter. Confluence Investment Management LLC increased its stake in Ares Capital Corporation by 4.9% in the second quarter. Confluence Investment Management LLC now owns 4,895,029 shares of the investment management company’s stock valued at $80,181,000 after purchasing an additional 229,670 shares in the last quarter. Van ECK Associates Corp increased its stake in Ares Capital Corporation by 20.9% in the second quarter. Van ECK Associates Corp now owns 2,314,759 shares of the investment management company’s stock valued at $37,916,000 after purchasing an additional 400,272 shares in the last quarter. Finally, Yorktown Management & Research Co Inc increased its stake in Ares Capital Corporation by 12.5% in the second quarter. Yorktown Management & Research Co Inc now owns 2,250,000 shares of the investment management company’s stock valued at $36,855,000 after purchasing an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

ARCC has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. National Securities reaffirmed a “buy” rating and issued a $19.00 price target on shares of Ares Capital Corporation in a research note on Monday, August 7th. Citigroup Inc. initiated coverage on shares of Ares Capital Corporation in a research note on Wednesday, September 20th. They issued an “outperform” rating and a $18.00 price target for the company. Finally, Keefe, Bruyette & Woods set a $19.00 price target on shares of Ares Capital Corporation and gave the company a “buy” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Ares Capital Corporation currently has a consensus rating of “Buy” and a consensus target price of $17.89.

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Shares of Ares Capital Corporation (ARCC) opened at 16.25 on Friday. The stock’s 50 day moving average is $16.24 and its 200 day moving average is $16.47. Ares Capital Corporation has a 52-week low of $15.01 and a 52-week high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. The business had revenue of $284.00 million for the quarter, compared to analysts’ expectations of $297.77 million. During the same period last year, the business earned $0.50 earnings per share. On average, analysts anticipate that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.35%. Ares Capital Corporation’s dividend payout ratio (DPR) is currently 117.83%.

Ares Capital Corporation Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

Institutional Ownership by Quarter for Ares Capital Corporation (NASDAQ:ARCC)

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