Public Employees Retirement System of Ohio raised its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 267,800 shares of the investment management company’s stock after acquiring an additional 50,900 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.06% of Ares Capital worth $4,389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Delphi Management Inc. MA raised its stake in shares of Ares Capital by 4.8% during the 3rd quarter. Delphi Management Inc. MA now owns 149,863 shares of the investment management company’s stock worth $2,456,000 after buying an additional 6,823 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Ares Capital by 38.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 113,203 shares of the investment management company’s stock worth $1,855,000 after buying an additional 31,199 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Ares Capital during the 3rd quarter worth approximately $306,000. Green Square Capital LLC raised its stake in shares of Ares Capital by 2.5% during the 3rd quarter. Green Square Capital LLC now owns 381,953 shares of the investment management company’s stock worth $6,260,000 after buying an additional 9,408 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Ares Capital by 6.9% during the 3rd quarter. California Public Employees Retirement System now owns 895,500 shares of the investment management company’s stock worth $14,677,000 after buying an additional 57,900 shares in the last quarter. 43.60% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on ARCC. Keefe, Bruyette & Woods set a $19.00 target price on Ares Capital and gave the stock a “buy” rating in a research note on Friday, October 6th. Jefferies Group reissued a “buy” rating and set a $19.50 target price on shares of Ares Capital in a research note on Friday, November 3rd. Zacks Investment Research downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Citigroup began coverage on Ares Capital in a research note on Wednesday, September 20th. They set an “outperform” rating and a $18.00 target price for the company. Finally, TheStreet raised Ares Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.00.

Ares Capital Co. (NASDAQ:ARCC) opened at $15.73 on Wednesday. Ares Capital Co. has a one year low of $15.60 and a one year high of $17.87. The firm has a market capitalization of $6,735.53, a P/E ratio of 12.39, a P/E/G ratio of 3.82 and a beta of 0.63. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The firm had revenue of $294.00 million during the quarter, compared to the consensus estimate of $295.02 million. During the same period last year, the business posted $0.43 EPS. equities analysts predict that Ares Capital Co. will post 1.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.66%. The ex-dividend date is Thursday, December 14th. Ares Capital’s payout ratio is currently 119.69%.

In other news, Director Michael J. Arougheti acquired 8,365 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was purchased at an average cost of $15.85 per share, with a total value of $132,585.25. Following the purchase, the director now directly owns 937,054 shares of the company’s stock, valued at approximately $14,852,305.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 8,965 shares of company stock valued at $142,315 over the last ninety days. 0.45% of the stock is currently owned by company insiders.

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About Ares Capital

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.

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

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