Lincoln National Corp Increases Stock Position in Ares Capital Co. (NASDAQ:ARCC)

Posted by on Jul 27th, 2023

Lincoln National Corp boosted its stake in Ares Capital Co. (NASDAQ:ARCC – Free Report) by 19.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,129 shares of the investment management company’s stock after purchasing an additional 2,481 shares during the quarter. Lincoln National Corp’s holdings in Ares Capital were worth $276,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in Ares Capital during the 1st quarter valued at about $27,000. Arlington Partners LLC bought a new position in Ares Capital in the 4th quarter worth about $31,000. Ridgewood Investments LLC bought a new position in Ares Capital in the 1st quarter worth about $37,000. Coppell Advisory Solutions Corp. bought a new position in Ares Capital in the 4th quarter worth about $49,000. Finally, Oliver Lagore Vanvalin Investment Group grew its stake in Ares Capital by 833.3% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 2,800 shares of the investment management company’s stock worth $52,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 30.33% of the company’s stock.

Insider Activity at Ares Capital

In other news, insider Michael Kort Schnabel purchased 15,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was bought at an average price of $17.84 per share, for a total transaction of $267,600.00. Following the acquisition, the insider now directly owns 15,000 shares of the company’s stock, valued at approximately $267,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Ares Capital in a research note on Wednesday. Citigroup increased their price objective on shares of Ares Capital from $20.00 to $21.00 in a research note on Wednesday. Wells Fargo & Company downgraded shares of Ares Capital from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $20.00 to $18.00 in a research note on Tuesday, April 18th. StockNews.com initiated coverage on shares of Ares Capital in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, TheStreet upgraded shares of Ares Capital from a “c+” rating to a “b” rating in a research note on Thursday, May 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.13.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $19.81 on Thursday. The company’s 50-day moving average price is $18.88 and its 200-day moving average price is $18.75. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market cap of $10.79 billion, a P/E ratio of 15.48 and a beta of 1.00. Ares Capital Co. has a twelve month low of $16.53 and a twelve month high of $20.75.

Ares Capital (NASDAQ:ARCC – Get Free Report) last issued its earnings results on Tuesday, April 25th. The investment management company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). The firm had revenue of $618.00 million for the quarter, compared to analysts’ expectations of $633.13 million. Ares Capital had a return on equity of 12.04% and a net margin of 29.33%. Ares Capital’s revenue for the quarter was up 40.5% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, sell-side analysts forecast that Ares Capital Co. will post 2.3 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.69%. The ex-dividend date is Thursday, September 14th. Ares Capital’s dividend payout ratio (DPR) is currently 150.00%.

Ares Capital Company Profile

(Free Report)

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

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