QTR Family Wealth LLC Invests $917,000 in Ares Capital Corporation $ARCC

QTR Family Wealth LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 45,948 shares of the investment management company’s stock, valued at approximately $917,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ARCC. UBS Group AG raised its stake in shares of 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 worth $226,615,000 after purchasing an additional 3,301,890 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Ares Capital during the 3rd quarter worth about $36,943,000. Legal & General Group Plc raised its stake in shares of Ares Capital by 16.4% during the 4th quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock worth $109,432,000 after purchasing an additional 761,838 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Ares Capital by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock worth $190,572,000 after purchasing an additional 705,882 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of Ares Capital during the 1st quarter worth about $14,766,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ARCC. B. Riley Financial cut their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. UBS Group cut their price objective on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 13th. Truist Financial cut their price objective on Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods cut their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.65.

Ares Capital Stock Up 1.0%

Shares of ARCC stock opened at $19.26 on Friday. The stock’s 50 day simple moving average is $18.76 and its 200 day simple moving average is $19.37. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 11.82 and a beta of 0.56.

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

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued 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 yield of 10.0%. 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.