Toronto Dominion Bank Increases Position in Ares Capital Co. (NASDAQ:ARCC)

Posted by Defense World Staff on Sep 3rd, 2023

Toronto Dominion Bank lifted its holdings in Ares Capital Co. (NASDAQ:ARCC – Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 214,480 shares of the investment management company’s stock after buying an additional 18,134 shares during the period. Toronto Dominion Bank’s holdings in Ares Capital were worth $3,918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. boosted its stake in shares of Ares Capital by 4.5% in the 1st quarter. Benjamin Edwards Inc. now owns 12,891 shares of the investment management company’s stock worth $236,000 after buying an additional 555 shares during the last quarter. Western Financial Corp CA lifted its stake in Ares Capital by 2.6% in the first quarter. Western Financial Corp CA now owns 22,405 shares of the investment management company’s stock valued at $409,000 after purchasing an additional 571 shares during the last quarter. Clear Creek Financial Management LLC lifted its stake in Ares Capital by 0.9% in the first quarter. Clear Creek Financial Management LLC now owns 63,969 shares of the investment management company’s stock valued at $1,169,000 after purchasing an additional 600 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Ares Capital by 1.2% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 51,316 shares of the investment management company’s stock valued at $938,000 after purchasing an additional 603 shares during the last quarter. Finally, Roman Butler Fullerton & Co. lifted its stake in Ares Capital by 3.1% in the first quarter. Roman Butler Fullerton & Co. now owns 21,606 shares of the investment management company’s stock valued at $392,000 after purchasing an additional 645 shares during the last quarter. Hedge funds and other institutional investors own 29.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ARCC shares. B. Riley upped their price objective on Ares Capital from $20.50 to $21.00 in a research note on Wednesday, July 26th. StockNews.com started coverage on Ares Capital in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Citigroup upped their price objective on Ares Capital from $20.00 to $21.00 in a research note on Wednesday, July 26th. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of Ares Capital in a research note on Wednesday, July 26th. Finally, TheStreet upgraded Ares Capital from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

View Our Latest Stock Report on ARCC

Ares Capital Trading Up 0.1 %

NASDAQ:ARCC opened at $19.50 on Friday. The company has a market cap of $10.87 billion, a P/E ratio of 11.82 and a beta of 1.00. The stock’s fifty day moving average price is $19.29 and its two-hundred day moving average price is $18.78. Ares Capital Co. has a 1 year low of $16.53 and a 1 year high of $20.33. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.43 and a quick ratio of 1.43.

Ares Capital (NASDAQ:ARCC – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The investment management company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The firm had revenue of $634.00 million for the quarter, compared to analysts’ expectations of $623.26 million. Ares Capital had a net margin of 36.52% and a return on equity of 12.47%. As a group, analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.48 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.85%. Ares Capital’s payout ratio is currently 116.36%.

Ares Capital 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.