Brown Miller Wealth Management LLC Has $1.78 Million Stock Position in Ares Capital Corporation $ARCC

Brown Miller Wealth Management LLC raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,023 shares of the investment management company’s stock after purchasing an additional 1,656 shares during the quarter. Brown Miller Wealth Management LLC’s holdings in Ares Capital were worth $1,779,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Taylor Frigon Capital Management LLC grew its position in Ares Capital by 20.9% in the second quarter. Taylor Frigon Capital Management LLC now owns 126,366 shares of the investment management company’s stock valued at $2,775,000 after acquiring an additional 21,847 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Ares Capital by 0.6% in the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after purchasing an additional 21,344 shares in the last quarter. Rollins Financial Advisors LLC grew its holdings in shares of Ares Capital by 10.2% during the 1st quarter. Rollins Financial Advisors LLC now owns 138,139 shares of the investment management company’s stock valued at $3,061,000 after purchasing an additional 12,838 shares during the last quarter. Sound Income Strategies LLC increased its position in Ares Capital by 3.2% during the 2nd quarter. Sound Income Strategies LLC now owns 2,453,944 shares of the investment management company’s stock worth $53,889,000 after purchasing an additional 75,109 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Ares Capital by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock valued at $5,343,000 after purchasing an additional 1,776 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Down 1.2%

ARCC opened at $20.15 on Friday. The company has a fifty day moving average price of $21.91 and a two-hundred day moving average price of $21.71. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a market cap of $14.21 billion, a P/E ratio of 9.83 and a beta of 0.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The company had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. During the same period last year, the company earned $0.61 EPS. Analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.5%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio is presently 93.66%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. JPMorgan Chase & Co. reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group increased their target price on Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. JMP Securities set a $23.00 price target on Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Finally, Wells Fargo & Company upped their price objective on Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.86.

Ares Capital 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.