Sumitomo Mitsui Trust Group Inc. Buys 257,157 Shares of Ares Capital Corporation $ARCC

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,517,560 shares of the investment management company’s stock after purchasing an additional 257,157 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Ares Capital worth $30,973,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aurora Private Wealth Inc. raised its position in shares of Ares Capital by 1.5% in the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock valued at $636,000 after buying an additional 436 shares in the last quarter. Prostatis Group LLC increased its stake in Ares Capital by 2.1% in the second quarter. Prostatis Group LLC now owns 22,236 shares of the investment management company’s stock valued at $488,000 after acquiring an additional 468 shares during the last quarter. Fountainhead AM LLC raised its position in Ares Capital by 5.5% during the second quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock valued at $214,000 after purchasing an additional 511 shares in the last quarter. Fiduciary Alliance LLC raised its position in Ares Capital by 3.1% during the second quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after purchasing an additional 516 shares in the last quarter. Finally, Carnegie Lake Advisors LLC lifted its stake in Ares Capital by 0.8% during the second quarter. Carnegie Lake Advisors LLC now owns 65,514 shares of the investment management company’s stock worth $1,439,000 after purchasing an additional 517 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ares Capital

In related news, CEO Michael Kort Schnabel acquired 13,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the completion of the acquisition, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ARCC shares. UBS Group decreased their price target on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Capital One Financial set a $22.50 price objective on Ares Capital in a research note on Friday, October 10th. Royal Bank Of Canada decreased their target price on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Capital in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Stock Performance

Shares of ARCC stock opened at $20.92 on Friday. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 10.46 and a beta of 0.58. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.09. The business’s 50-day moving average price is $20.39 and its 200-day moving average price is $21.15. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $766.48 million. During the same quarter last year, the business earned $0.58 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.2%. The ex-dividend date was Monday, December 15th. Ares Capital’s payout ratio is 96.00%.

Ares Capital Company 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.