Beverly Hills Private Wealth LLC Takes $836,000 Position in Ares Capital Corporation $ARCC

Beverly Hills Private Wealth LLC bought a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, HoldingsChannel reports. The institutional investor bought 45,111 shares of the investment management company’s stock, valued at approximately $836,000.

Several other institutional investors and hedge funds have also made changes to their positions in ARCC. Roman Butler Fullerton & Co. lifted its holdings in Ares Capital by 1.9% in the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock worth $504,000 after buying an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Ares Capital by 5.3% during the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock worth $213,000 after acquiring an additional 532 shares during the last quarter. CWS Financial Advisors LLC increased its position in shares of Ares Capital by 4.0% during the first quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock worth $270,000 after acquiring an additional 582 shares during the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of Ares Capital by 5.9% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock worth $202,000 after acquiring an additional 592 shares in the last quarter. Finally, Founders Financial Alliance LLC lifted its stake in shares of Ares Capital by 1.8% in the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock worth $695,000 after acquiring an additional 620 shares in the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Stock Performance

Shares of ARCC stock opened at $19.87 on Monday. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 14.72 and a beta of 0.56. Ares Capital Corporation has a one year low of $17.40 and a one year high of $22.76. The company’s 50-day simple moving average is $18.86 and its 200-day simple moving average is $18.82. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.The firm had revenue of $768.00 million during the quarter, compared to analyst estimates of $770.19 million. During the same period in the previous year, the company earned $0.50 earnings per share. Equities analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.48 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.7%. Ares Capital’s dividend payout ratio (DPR) is presently 142.22%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Keefe, Bruyette & Woods reduced their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Oppenheimer decreased 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. Finally, Citizens Jmp dropped their price target on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. 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 MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

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.