Ares Capital Corporation $ARCC Stock: Baldwin Wealth Partners LLC MA Boosts Holdings

Baldwin Wealth Partners LLC MA boosted its position in Ares Capital Corporation (NASDAQ:ARCC) by 33.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 587,917 shares of the investment management company’s stock after buying an additional 148,896 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Ares Capital were worth $11,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dupree Financial Group LLC acquired a new position in shares of Ares Capital in the 3rd quarter worth approximately $7,395,000. Sound Income Strategies LLC raised its position in shares of Ares Capital by 15.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,195,050 shares of the investment management company’s stock valued at $59,875,000 after acquiring an additional 428,682 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Ares Capital by 18.5% during the 3rd quarter. CoreCap Advisors LLC now owns 30,616 shares of the investment management company’s stock valued at $585,000 after acquiring an additional 4,785 shares in the last quarter. Avidian Wealth Enterprises LLC raised its position in shares of Ares Capital by 66.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 100,778 shares of the investment management company’s stock valued at $1,925,000 after acquiring an additional 40,211 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Ares Capital by 73.9% during the third quarter. Valeo Financial Advisors LLC now owns 19,493 shares of the investment management company’s stock worth $372,000 after purchasing an additional 8,286 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ARCC shares. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Truist Financial reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research report on Friday, September 4th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.39.

Ares Capital Trading Up 0.4%

Shares of NASDAQ ARCC opened at $18.63 on Tuesday. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 13.80 and a beta of 0.61. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $21.14. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. The stock’s 50 day simple moving average is $19.54 and its 200 day simple moving average is $18.95.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. During the same quarter last year, the company earned $0.50 EPS. Equities research analysts expect that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Ares Capital’s payout ratio is 142.22%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that operates as a business development company (BDC). It provides financing to middle-market companies, primarily through directly originated loans and other investments. Ares Capital seeks to support businesses that may require capital for acquisitions, growth initiatives, recapitalizations, refinancings and other corporate purposes.

The company invests across a range of industries and typically provides first-lien senior secured loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments.