Chicago Partners Investment Group LLC Raises Stock Holdings in Ares Capital Corporation $ARCC

Chicago Partners Investment Group LLC increased its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 4.9% during the second quarter, HoldingsChannel.com reports. The fund owned 564,302 shares of the investment management company’s stock after buying an additional 26,260 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Ares Capital were worth $13,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Aurora Private Wealth Inc. raised its stake in shares of Ares Capital by 1.5% during the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock worth $636,000 after purchasing an additional 436 shares during the period. Community Trust & Investment Co. increased its holdings in Ares Capital by 0.3% during the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock worth $3,296,000 after buying an additional 454 shares during the last quarter. Prostatis Group LLC raised its position in Ares Capital by 2.1% in the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock worth $482,000 after acquiring an additional 457 shares during the period. BankPlus Wealth Management LLC raised its position in Ares Capital by 2.5% in the first quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company’s stock worth $439,000 after acquiring an additional 492 shares during the period. Finally, Fiduciary Alliance LLC boosted its stake in Ares Capital by 3.1% in the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after acquiring an additional 516 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $19.51 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The stock has a market cap of $13.76 billion, a PE ratio of 9.52 and a beta of 0.68. The stock has a fifty day moving average of $21.33 and a 200-day moving average of $21.53.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to the consensus estimate 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 prior year, the business earned $0.61 EPS. Equities research analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.8%. Ares Capital’s payout ratio is currently 93.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ARCC shares. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Ares Capital in a research report on Wednesday, October 8th. Capital One Financial set a $22.50 price objective on Ares Capital in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

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.