Independent Financial Group LLC Purchases New Holdings in Ares Capital Corporation $ARCC

Independent Financial Group LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the first quarter, Holdings Channel reports. The institutional investor purchased 262,703 shares of the investment management company’s stock, valued at approximately $4,734,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley grew its stake in Ares Capital by 2.0% in the 4th quarter. Morgan Stanley now owns 17,558,581 shares of the investment management company’s stock valued at $355,210,000 after purchasing an additional 341,578 shares during the period. UBS Group AG increased its position 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 valued at $226,615,000 after purchasing an additional 3,301,890 shares during the last quarter. Strs Ohio bought a new stake in shares of Ares Capital during the 1st quarter worth $189,210,000. 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 during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Ares Capital by 16.4% in 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 buying an additional 761,838 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

ARCC has been the subject of several research reports. Oppenheimer reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. B. Riley Financial lowered their price objective on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Truist Financial dropped their target price on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company reissued an “equal weight” rating and set a $19.00 target price (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Performance

Shares of ARCC opened at $19.17 on Friday. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $23.42. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40. The stock’s fifty day moving average price is $18.65 and its two-hundred day moving average price is $19.02. The firm has a market cap of $13.76 billion, a PE ratio of 11.76 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share 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 firm had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same quarter in the previous year, the company posted $0.50 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Ares Capital Corporation will post 1.9 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.92 annualized dividend and a yield of 10.0%. Ares Capital’s dividend payout ratio 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.