Ares Capital Corporation $ARCC Holdings Raised by Carnegie Investment Counsel

Carnegie Investment Counsel boosted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 22.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 395,657 shares of the investment management company’s stock after buying an additional 72,845 shares during the quarter. Carnegie Investment Counsel’s holdings in Ares Capital were worth $8,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Taylor Frigon Capital Management LLC raised its holdings in shares of Ares Capital by 20.9% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 126,366 shares of the investment management company’s stock valued at $2,775,000 after purchasing an additional 21,847 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Ares Capital by 0.6% during 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 raised 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 in the last quarter. Sound Income Strategies LLC raised its holdings in shares of 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 valued at $53,889,000 after purchasing an additional 75,109 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Ares Capital by 0.7% during 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 in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $20.08 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $14.16 billion, a PE ratio of 9.80 and a beta of 0.68. The firm’s fifty day simple moving average is $21.07 and its 200 day simple moving average is $21.52. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (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 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 prior year, the business earned $0.61 earnings per share. On average, sell-side analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.6%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is currently 93.66%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ARCC. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Capital One Financial set a $22.50 price target on shares of Ares Capital in a report on Friday, October 10th. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their target price for the company from $22.50 to $23.50 in a research note on Wednesday, July 30th. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. Finally, UBS Group lowered their target price on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.63.

About Ares Capital

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.