Obermeyer Wealth Partners Has $3.73 Million Stock Holdings in Ares Capital Corporation $ARCC

Obermeyer Wealth Partners grew its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 169,856 shares of the investment management company’s stock after purchasing an additional 5,400 shares during the quarter. Obermeyer Wealth Partners’ holdings in Ares Capital were worth $3,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC acquired a new stake in Ares Capital in the second quarter valued at $877,203,000. Confluence Investment Management LLC boosted its stake in Ares Capital by 0.6% in the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after purchasing an additional 21,344 shares during the period. Advisors Capital Management LLC increased its position in Ares Capital by 3.0% during the 1st quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock worth $80,396,000 after buying an additional 104,339 shares during the period. LPL Financial LLC lifted its holdings in shares of Ares Capital by 9.0% during the first quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after buying an additional 293,442 shares in the last quarter. Finally, Allen Investment Management LLC boosted its position in shares of Ares Capital by 8.4% in the first quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock valued at $65,930,000 after acquiring an additional 230,924 shares during the period. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Up 1.0%

Ares Capital stock opened at $20.35 on Monday. The company has a quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $14.57 billion, a P/E ratio of 10.18 and a beta of 0.68. The firm has a 50 day moving average price of $20.88 and a 200-day moving average price of $21.56. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. As a group, equities analysts predict that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Monday, December 15th. Ares Capital’s payout ratio is currently 96.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ARCC. Royal Bank Of Canada lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Keefe, Bruyette & Woods reduced their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered their target price on Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research report on Thursday. Finally, JMP Securities set a $23.00 target price on shares of Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Company Profile

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.