Equitable Holdings Inc. Invests $706,000 in Ares Capital Corporation $ARCC

Equitable Holdings Inc. acquired a new position in Ares Capital Corporation (NASDAQ:ARCCFree Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,084 shares of the investment management company’s stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARCC. Foresight Capital Management Advisors Inc. boosted its stake in Ares Capital by 17.2% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 345,778 shares of the investment management company’s stock valued at $6,407,000 after purchasing an additional 50,624 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Ares Capital in the 2nd quarter worth $747,000. Bank of New York Mellon Corp lifted its holdings in shares of Ares Capital by 53.5% in the first quarter. Bank of New York Mellon Corp now owns 240,483 shares of the investment management company’s stock valued at $4,333,000 after buying an additional 83,841 shares during the period. Spinnaker Trust lifted its holdings in shares of Ares Capital by 17.0% in the fourth quarter. Spinnaker Trust now owns 1,210,941 shares of the investment management company’s stock valued at $24,497,000 after buying an additional 176,040 shares during the period. Finally, iA Global Asset Management Inc. boosted its stake in Ares Capital by 9.7% during the fourth quarter. iA Global Asset Management Inc. now owns 901,098 shares of the investment management company’s stock valued at $18,229,000 after buying an additional 79,736 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. JPMorgan Chase & Co. cut their price target on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

View Our Latest Analysis on ARCC

Ares Capital Stock Performance

ARCC opened at $19.95 on Friday. The firm has a market cap of $14.32 billion, a PE ratio of 14.78 and a beta of 0.56. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $19.10 and a 200-day simple moving average of $18.84. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $22.51.

Ares Capital (NASDAQ:ARCCGet Free Report) last announced its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.The company had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. During the same period in the previous year, the firm earned $0.50 earnings per share. As a group, equities analysts predict that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s payout ratio is presently 142.22%.

Ares Capital Profile

(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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