CIBC Private Wealth Group LLC Acquires 36,020 Shares of Ares Capital Corporation $ARCC

CIBC Private Wealth Group LLC boosted its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 8.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 484,972 shares of the investment management company’s stock after purchasing an additional 36,020 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Ares Capital were worth $9,898,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Partners Group Holding AG grew its stake in shares of Ares Capital by 4.8% in the third quarter. Partners Group Holding AG now owns 1,767,154 shares of the investment management company’s stock worth $36,068,000 after acquiring an additional 80,885 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Ares Capital by 33.9% in the 3rd quarter. International Assets Investment Management LLC now owns 275,891 shares of the investment management company’s stock worth $5,557,000 after purchasing an additional 69,844 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new position in Ares Capital in the 3rd quarter worth about $1,430,000. Global Retirement Partners LLC boosted its stake in Ares Capital by 265.3% in the 3rd quarter. Global Retirement Partners LLC now owns 74,725 shares of the investment management company’s stock worth $1,525,000 after purchasing an additional 54,267 shares in the last quarter. Finally, Rathbones Group PLC grew its position in Ares Capital by 27.2% during the 3rd quarter. Rathbones Group PLC now owns 438,807 shares of the investment management company’s stock valued at $8,956,000 after purchasing an additional 93,800 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Wells Fargo & Company cut their price target on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. B. Riley Financial reissued a “buy” rating on shares of Ares Capital in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Ares Capital in a research report on Monday, December 29th. Finally, Royal Bank Of Canada cut their target price on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Ares Capital Stock Performance

ARCC opened at $17.96 on Friday. The company’s 50 day moving average is $19.45 and its 200 day moving average is $20.13. 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 company has a market cap of $12.90 billion, a price-to-earnings ratio of 9.66 and a beta of 0.59. Ares Capital Corporation has a 12-month low of $17.59 and a 12-month high of $23.42.

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

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend is Friday, March 13th. Ares Capital’s dividend payout ratio (DPR) is currently 103.23%.

Insiders Place Their Bets

In other news, CFO Scott C. Lem purchased 5,186 shares of the company’s stock in a transaction on Friday, February 6th. The stock was acquired at an average cost of $19.29 per share, for a total transaction of $100,037.94. Following the completion of the transaction, the chief financial officer directly owned 39,463 shares in the company, valued at $761,241.27. This trade represents a 15.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael Kort Schnabel bought 12,500 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average cost of $19.13 per share, with a total value of $239,125.00. Following the acquisition, 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 position. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is currently owned by company 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.