Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Ares Capital Corporation $ARCC

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,260,403 shares of the investment management company’s stock after purchasing an additional 155,995 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Ares Capital were worth $27,678,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. grew its holdings in Ares Capital by 23,571.4% during the first 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 period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ares Capital by 18.2% during the first 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 period. Allspring Global Investments Holdings LLC grew its holdings in Ares Capital by 0.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock worth $5,343,000 after acquiring an additional 1,776 shares during the period. Sage Advisors LLC grew its holdings in Ares Capital by 3.5% during the first quarter. Sage Advisors LLC now owns 998,486 shares of the investment management company’s stock worth $22,126,000 after acquiring an additional 33,798 shares during the period. Finally, Clear Creek Financial Management LLC grew its holdings in Ares Capital by 1.4% during the first quarter. Clear Creek Financial Management LLC now owns 185,015 shares of the investment management company’s stock worth $4,100,000 after acquiring an additional 2,626 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Up 1.2%

Ares Capital stock opened at $20.57 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 10.03 and a beta of 0.68. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The stock’s fifty day moving average is $20.99 and its two-hundred day moving average is $21.55.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $658.00 million for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.Ares Capital’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. Analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. dropped their price objective on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. JMP Securities set a $23.00 price objective on Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upped their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

About Ares Capital

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.