BankPlus Wealth Management LLC Has $452,000 Stock Holdings in Ares Capital Corporation $ARCC

BankPlus Wealth Management LLC raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,567 shares of the investment management company’s stock after purchasing an additional 758 shares during the period. BankPlus Wealth Management LLC’s holdings in Ares Capital were worth $452,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Confluence Investment Management LLC boosted its holdings in Ares Capital by 0.6% in 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 purchasing an additional 21,344 shares during the period. Rollins Financial Advisors LLC increased its position in Ares Capital by 10.2% during the 1st quarter. Rollins Financial Advisors LLC now owns 138,139 shares of the investment management company’s stock worth $3,061,000 after purchasing an additional 12,838 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Ares Capital by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock worth $5,343,000 after purchasing an additional 1,776 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ares Capital by 18.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,840 shares of the investment management company’s stock worth $1,058,000 after acquiring an additional 7,381 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Ares Capital by 23,571.4% during the 1st quarter. Bessemer Group Inc. now owns 3,314 shares of the investment management company’s stock worth $73,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $20.56 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $14.50 billion, a PE ratio of 10.03 and a beta of 0.70. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The company has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $21.76.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The business had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.During the same quarter in the prior year, the business earned $0.61 EPS. Equities analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is 93.66%.

Analysts Set New Price Targets

A number of research firms have recently commented on ARCC. UBS Group upped their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods increased their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Citigroup restated an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. JMP Securities set a $23.00 price objective on shares of Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Finally, B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.