Naviter Wealth LLC Sells 21,282 Shares of Ares Capital Corporation $ARCC

Naviter Wealth LLC decreased its stake in Ares Capital Corporation (NASDAQ:ARCC) by 3.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 662,019 shares of the investment management company’s stock after selling 21,282 shares during the quarter. Ares Capital makes up about 1.8% of Naviter Wealth LLC’s investment portfolio, making the stock its 11th biggest position. Naviter Wealth LLC’s holdings in Ares Capital were worth $14,538,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ARCC. Kingstone Capital Partners Texas LLC bought a new position in shares of Ares Capital during the second quarter valued at $877,203,000. HighTower Advisors LLC raised its stake in shares of Ares Capital by 87.2% during the first quarter. HighTower Advisors LLC now owns 2,621,109 shares of the investment management company’s stock valued at $58,084,000 after acquiring an additional 1,220,570 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of Ares Capital during the first quarter valued at $14,766,000. CCLA Investment Management raised its stake in shares of Ares Capital by 26.5% during the first quarter. CCLA Investment Management now owns 2,799,023 shares of the investment management company’s stock valued at $62,026,000 after acquiring an additional 587,068 shares during the last quarter. Finally, SCS Capital Management LLC bought a new position in shares of Ares Capital during the first quarter valued at $11,778,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $19.49 on Tuesday. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The firm has a fifty day simple moving average of $21.55 and a 200 day simple moving average of $21.60. The company has a market capitalization of $13.75 billion, a PE ratio of 9.51 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to analyst estimates of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ARCC shares. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Ares Capital in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Finally, UBS Group lifted their target price on shares of Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.81.

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.