Diversify Wealth Management LLC Purchases 28,960 Shares of Ares Capital Corporation $ARCC

Diversify Wealth Management LLC raised its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 223.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,893 shares of the investment management company’s stock after buying an additional 28,960 shares during the period. Diversify Wealth Management LLC’s holdings in Ares Capital were worth $782,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ARCC. Strs Ohio bought a new position in shares of Ares Capital during the first quarter valued at about $189,210,000. UBS Group AG increased its holdings in Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after purchasing an additional 3,301,890 shares during the period. Marshall Wace LLP bought a new position in Ares Capital during the 3rd quarter valued at approximately $36,943,000. Altshuler Shaham Ltd bought a new position in Ares Capital during the 4th quarter valued at approximately $33,380,000. Finally, Michael & Susan Dell Foundation purchased a new stake in Ares Capital in the 4th quarter worth approximately $26,089,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

ARCC has been the topic of a number of recent analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Truist Financial dropped their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Citizens Jmp reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Up 1.5%

Shares of Ares Capital stock opened at $19.21 on Friday. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 11.79 and a beta of 0.56. The company has a 50-day moving average of $18.65 and a 200 day moving average of $19.02. 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 the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same period in the previous year, the firm earned $0.50 EPS. The company’s revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend was Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is 117.79%.

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.