Wealthfront Advisers LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) in the second quarter, Holdings Channel.com reports. The fund bought 63,286 shares of the investment management company’s stock, valued at approximately $1,173,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Roman Butler Fullerton & Co. grew its stake in Ares Capital by 1.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after acquiring an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in Ares Capital by 5.3% in the 4th quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock worth $213,000 after purchasing an additional 532 shares in the last quarter. CWS Financial Advisors LLC lifted its stake in Ares Capital by 4.0% in the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock worth $270,000 after purchasing an additional 582 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its holdings in shares of Ares Capital by 5.9% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock worth $202,000 after purchasing an additional 592 shares during the last quarter. Finally, Founders Financial Alliance LLC boosted its holdings in shares of Ares Capital by 1.8% during the 4th quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock worth $695,000 after purchasing an additional 620 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Truist Financial cut their price target on Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada lowered their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Oppenheimer dropped their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Keefe, Bruyette & Woods cut their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. reduced their price target on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.40.
Ares Capital Stock Up 0.7%
Shares of NASDAQ ARCC opened at $19.92 on Friday. The company has a market capitalization of $14.30 billion, a P/E ratio of 14.76 and a beta of 0.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. The company has a 50 day simple moving average of $18.93 and a 200-day simple moving average of $18.82. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $22.53.
Ares Capital (NASDAQ:ARCC – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same period in the prior year, the firm posted $0.50 earnings per share. On average, equities research analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current year.
Ares Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.48 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. Ares Capital’s payout ratio is currently 142.22%.
About Ares Capital
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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