Westbourne Investment Advisors Inc. Lowers Position in Ares Capital Co. (ARCC)
Westbourne Investment Advisors Inc. reduced its position in Ares Capital Co. (NASDAQ:ARCC) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 117,666 shares of the investment management company’s stock after selling 10,267 shares during the period. Ares Capital accounts for approximately 1.5% of Westbourne Investment Advisors Inc.’s portfolio, making the stock its 20th largest holding. Westbourne Investment Advisors Inc.’s holdings in Ares Capital were worth $2,017,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ARCC. Capital Financial Planning LLC purchased a new position in shares of Ares Capital during the fourth quarter worth about $28,000. Lavaca Capital LLC purchased a new position in shares of Ares Capital during the fourth quarter worth about $32,000. Ffcm LLC grew its holdings in shares of Ares Capital by 53.4% during the fourth quarter. Ffcm LLC now owns 2,201 shares of the investment management company’s stock worth $34,000 after purchasing an additional 766 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Ares Capital during the first quarter worth about $47,000. Finally, Enlightenment Research LLC purchased a new stake in Ares Capital in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 39.26% of the company’s stock.
ARCC traded down $0.06 during midday trading on Monday, hitting $17.29. The stock had a trading volume of 23,641 shares, compared to its average volume of 1,740,691. The firm has a market cap of $7.41 billion, a P/E ratio of 10.30, a P/E/G ratio of 3.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 1.05. Ares Capital Co. has a 1 year low of $14.50 and a 1 year high of $17.63.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.40 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 9.25%. This is an increase from Ares Capital’s previous quarterly dividend of $0.39. Ares Capital’s payout ratio is presently 95.24%.
Several brokerages have issued reports on ARCC. Zacks Investment Research lowered Ares Capital from a “buy” rating to a “hold” rating in a research note on Monday, February 18th. JMP Securities upped their target price on Ares Capital from $19.00 to $19.50 and gave the stock a “market outperform” rating in a research note on Wednesday, February 13th. National Securities upped their target price on Ares Capital from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Finally, BidaskClub raised Ares Capital from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.10.
Ares Capital Company Profile
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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