Independent Financial Group LLC Takes Position in Ares Capital Corporation $ARCC

Independent Financial Group LLC bought a new stake in shares of Ares Capital Corporation (NASDAQ:ARCCFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 262,703 shares of the investment management company’s stock, valued at approximately $4,734,000.

Several other large investors have also added to or reduced their stakes in the business. Investment Partners Asset Management Inc. acquired a new stake in Ares Capital in the fourth quarter valued at approximately $1,314,000. Sound Income Strategies LLC increased its holdings in shares of Ares Capital by 5.6% during the fourth 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 in the last quarter. Tectonic Advisors LLC raised its position in shares of Ares Capital by 10.8% during the fourth quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock worth $13,403,000 after purchasing an additional 64,491 shares during the period. Stableford Capital II LLC raised its position in shares of Ares Capital by 75.7% during the fourth quarter. Stableford Capital II LLC now owns 145,641 shares of the investment management company’s stock worth $2,946,000 after purchasing an additional 62,768 shares during the period. Finally, Prairiewood Capital LLC lifted its holdings in shares of Ares Capital by 22.9% in the 4th quarter. Prairiewood Capital LLC now owns 303,282 shares of the investment management company’s stock worth $6,135,000 after purchasing an additional 56,465 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Down 0.2%

Shares of Ares Capital stock opened at $19.17 on Friday. The stock has a fifty day simple moving average of $18.65 and a 200 day simple moving average of $19.02. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $23.42. The company has a market capitalization of $13.76 billion, a P/E ratio of 11.76 and a beta of 0.56. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13.

Ares Capital (NASDAQ:ARCCGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The company had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same quarter last year, the business posted $0.50 earnings per share. Ares Capital’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend was Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is presently 117.79%.

Analysts Set New Price Targets

ARCC has been the subject of several research reports. B. Riley Financial reduced their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Royal Bank Of Canada lowered their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Oppenheimer reduced their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

View Our Latest Stock Report on Ares Capital

About Ares Capital

(Free Report)

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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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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