Trinity Financial Advisors LLC grew its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 10.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 374,036 shares of the investment management company’s stock after purchasing an additional 35,645 shares during the quarter. Ares Capital comprises approximately 1.8% of Trinity Financial Advisors LLC’s portfolio, making the stock its 16th biggest holding. Trinity Financial Advisors LLC’s holdings in Ares Capital were worth $6,931,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the business. Sound Income Strategies LLC raised its holdings in Ares Capital by 5.6% during the 4th quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock valued at $54,691,000 after acquiring an additional 138,857 shares during the period. Tectonic Advisors LLC grew its position in shares of Ares Capital by 10.8% in the fourth quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock valued at $13,403,000 after purchasing an additional 64,491 shares in the last quarter. Prairiewood Capital LLC grew its position in shares of Ares Capital by 22.9% in the fourth quarter. Prairiewood Capital LLC now owns 303,282 shares of the investment management company’s stock valued at $6,135,000 after purchasing an additional 56,465 shares in the last quarter. Eos Management L.P. bought a new stake in shares of Ares Capital during the 4th quarter valued at $1,416,000. Finally, Cornerstone Advisory LLC lifted its holdings in Ares Capital by 1,022.6% during the 4th quarter. Cornerstone Advisory LLC now owns 145,943 shares of the investment management company’s stock worth $2,952,000 after purchasing an additional 132,943 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.
Wall Street Analyst Weigh In
ARCC has been the subject of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Oppenheimer cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. B. Riley Financial cut their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.40.
Ares Capital Stock Up 2.5%
ARCC stock opened at $19.65 on Wednesday. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $22.76. The stock has a market cap of $14.11 billion, a price-to-earnings ratio of 14.56 and a beta of 0.56. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. The company’s 50 day moving average is $18.70 and its 200 day moving average is $18.88.
Ares Capital (NASDAQ:ARCC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. During the same quarter in the prior year, the firm earned $0.50 EPS. Sell-side analysts predict that Ares Capital Corporation will post 1.9 EPS for the current fiscal year.
Ares Capital Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a yield of 9.8%. Ares Capital’s payout ratio is 142.22%.
Ares Capital Profile
Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.
Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.
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