Dickmeyer Boyce Financial Management Inc. Purchases Shares of 63,395 Ares Capital Corporation $ARCC

Dickmeyer Boyce Financial Management Inc. purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 63,395 shares of the investment management company’s stock, valued at approximately $1,142,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Lido Advisors LLC grew its stake in Ares Capital by 2.5% in the 1st quarter. Lido Advisors LLC now owns 632,530 shares of the investment management company’s stock valued at $11,394,000 after buying an additional 15,570 shares during the last quarter. Walleye Capital LLC acquired a new position in Ares Capital during the 1st quarter worth $370,000. NewEdge Wealth LLC lifted its position in Ares Capital by 10.6% during the 1st quarter. NewEdge Wealth LLC now owns 143,316 shares of the investment management company’s stock worth $2,583,000 after acquiring an additional 13,776 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in Ares Capital by 200.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 10,500 shares of the investment management company’s stock worth $189,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Ares Capital by 10.3% during the first quarter. Assetmark Inc. now owns 7,529 shares of the investment management company’s stock valued at $136,000 after acquiring an additional 701 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $18.61 on Friday. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $23.16. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $13.36 billion, a PE ratio of 11.42 and a beta of 0.56. The firm has a 50-day moving average price of $18.66 and a 200 day moving average price of $18.97.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. Research analysts anticipate that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.3%. Ares Capital’s dividend payout ratio is presently 117.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ARCC shares. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $19.00 price target (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Oppenheimer cut their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their target price on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods lowered their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Ares Capital 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.