Axxcess Wealth Management LLC Buys 20,109 Shares of Ares Capital Co. (NASDAQ:ARCC)

Axxcess Wealth Management LLC lifted its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 80.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,003 shares of the investment management company’s stock after purchasing an additional 20,109 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Ares Capital were worth $901,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cape Investment Advisory Inc. increased its position in shares of Ares Capital by 411.0% during the third quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock valued at $38,000 after buying an additional 1,570 shares during the period. First Horizon Advisors Inc. boosted its holdings in Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after purchasing an additional 931 shares during the period. Activest Wealth Management boosted its holdings in Ares Capital by 137.2% in the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after purchasing an additional 1,239 shares during the period. Householder Group Estate & Retirement Specialist LLC grew its position in shares of Ares Capital by 59.3% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,351 shares of the investment management company’s stock valued at $47,000 after purchasing an additional 875 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth $51,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Trading Up 1.4 %

Shares of ARCC opened at $20.89 on Tuesday. Ares Capital Co. has a fifty-two week low of $18.00 and a fifty-two week high of $21.00. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 7.15 and a beta of 0.99. The firm has a 50 day moving average price of $20.44 and a 200-day moving average price of $20.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The business had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts forecast that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.19%. The ex-dividend date of this dividend is Thursday, June 13th. Ares Capital’s dividend payout ratio is presently 65.75%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARCC. JPMorgan Chase & Co. lifted their price target on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their price target on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a research report on Tuesday, March 26th. Truist Financial lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Oppenheimer increased their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.43.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.