Ares Capital Corporation $ARCC Position Boosted by HB Wealth Management LLC

HB Wealth Management LLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 25.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,076 shares of the investment management company’s stock after acquiring an additional 33,837 shares during the quarter. HB Wealth Management LLC’s holdings in Ares Capital were worth $3,430,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC raised its stake in shares of Ares Capital by 20.9% during the second quarter. Taylor Frigon Capital Management LLC now owns 126,366 shares of the investment management company’s stock valued at $2,775,000 after purchasing an additional 21,847 shares in the last quarter. Confluence Investment Management LLC increased its stake in Ares Capital by 0.6% during the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after buying an additional 21,344 shares during the period. Sound Income Strategies LLC raised its position in shares of Ares Capital by 3.2% during the 2nd quarter. Sound Income Strategies LLC now owns 2,453,944 shares of the investment management company’s stock worth $53,889,000 after buying an additional 75,109 shares in the last quarter. Vise Technologies Inc. acquired a new stake in shares of Ares Capital in the 2nd quarter worth approximately $309,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Ares Capital in the second quarter valued at approximately $2,810,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

ARCC has been the subject of a number of research analyst reports. Wells Fargo & Company cut their target price on Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Royal Bank Of Canada cut their price objective on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Citigroup reaffirmed a “market outperform” rating on shares of Ares Capital in a research note on Thursday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, UBS Group cut their price target on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Insider Activity at Ares Capital

In other 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 purchased at an average price of $20.39 per share, with a total value of $265,070.00. Following the purchase, the chief executive officer 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

Ares Capital Stock Down 0.7%

Shares of Ares Capital stock opened at $20.64 on Friday. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The firm has a market capitalization of $14.77 billion, a PE ratio of 10.32 and a beta of 0.58. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $20.34 and its 200-day moving average is $21.19.

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

Ares Capital Dividend Announcement

The company 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. The ex-dividend date was Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.3%. Ares Capital’s payout ratio is currently 96.00%.

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.