Crestwood Advisors Group LLC Has $5.44 Million Holdings in Ares Capital Corporation $ARCC

Crestwood Advisors Group LLC lifted its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 266,685 shares of the investment management company’s stock after purchasing an additional 36,358 shares during the period. Crestwood Advisors Group LLC’s holdings in Ares Capital were worth $5,443,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Invesco Ltd. increased its stake in shares of Ares Capital by 825.4% during the second quarter. Invesco Ltd. now owns 3,551,711 shares of the investment management company’s stock worth $77,996,000 after purchasing an additional 3,167,906 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Ares Capital by 18.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,404,876 shares of the investment management company’s stock valued at $140,651,000 after purchasing an additional 1,006,460 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in Ares Capital by 56.9% during the second quarter. OMERS ADMINISTRATION Corp now owns 2,342,324 shares of the investment management company’s stock worth $51,437,000 after acquiring an additional 849,097 shares in the last quarter. Bank of America Corp DE boosted its position in Ares Capital by 8.9% in the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after buying an additional 705,882 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in Ares Capital during the 1st quarter worth $14,766,000. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Down 0.4%

Shares of NASDAQ ARCC opened at $19.30 on Wednesday. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.63. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 10.38 and a beta of 0.59. The business has a 50-day moving average of $20.20 and a 200-day moving average of $20.70.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $793.00 million for the quarter, compared to analysts’ expectations of $795.20 million. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Sell-side analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Friday, March 13th. Ares Capital’s dividend payout ratio (DPR) is 103.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ARCC shares. Keefe, Bruyette & Woods reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Royal Bank Of Canada reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, February 9th. Wall Street Zen downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Wells Fargo & Company cut their target price on Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Ares Capital in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Insider Buying and Selling

In related news, CFO Scott C. Lem acquired 5,186 shares of the stock in a transaction on Friday, February 6th. The stock was purchased at an average price of $19.29 per share, for a total transaction of $100,037.94. Following the completion of the transaction, the chief financial officer owned 39,463 shares of the company’s stock, valued at $761,241.27. This trade represents a 15.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Kort Schnabel purchased 12,500 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $19.13 per share, with a total value of $239,125.00. Following the transaction, the chief executive officer directly owned 40,500 shares in the company, valued at $774,765. This trade represents a 44.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.48% of the stock is owned by insiders.

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.