Div Capital Phoenix Assets Ltd Purchases New Position in Ares Capital Corporation $ARCC

Div Capital Phoenix Assets Ltd purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 57,729 shares of the investment management company’s stock, valued at approximately $1,168,000. Ares Capital makes up 0.3% of Div Capital Phoenix Assets Ltd’s portfolio, making the stock its 11th biggest position.

Several other institutional investors also recently bought and sold shares of the stock. UBS Group AG raised its position in Ares Capital by 41.8% during the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after acquiring an additional 3,301,890 shares in the last quarter. Bank of America Corp DE raised its position in Ares Capital by 8.9% during 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 acquiring an additional 705,882 shares in the last quarter. Legal & General Group Plc raised its position in Ares Capital by 16.4% during the fourth quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock valued at $109,432,000 after acquiring an additional 761,838 shares in the last quarter. LPL Financial LLC raised its position in Ares Capital by 3.6% during the fourth quarter. LPL Financial LLC now owns 4,210,365 shares of the investment management company’s stock valued at $85,176,000 after acquiring an additional 144,434 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Ares Capital by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 3,794,378 shares of the investment management company’s stock valued at $83,353,000 after acquiring an additional 225,984 shares in the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.2%

Ares Capital stock opened at $19.07 on Friday. The stock has a market capitalization of $13.69 billion, a PE ratio of 11.70 and a beta of 0.56. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $23.42. The business has a 50 day simple moving average of $18.73 and a 200-day simple moving average of $19.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $763.00 million during the quarter, compared to analysts’ expectations of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. On average, analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.1%. Ares Capital’s payout ratio is currently 117.79%.

Analysts Set New Price Targets

ARCC has been the subject of several recent research reports. Truist Financial reduced their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. JPMorgan Chase & Co. cut their price objective on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Finally, Oppenheimer cut their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $20.75.

Ares Capital Company Profile

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.