Segall Bryant & Hamill LLC Takes Position in Ares Capital Corporation $ARCC

Segall Bryant & Hamill LLC bought a new stake in Ares Capital Corporation (NASDAQ:ARCC) in the first quarter, HoldingsChannel.com reports. The firm bought 127,858 shares of the investment management company’s stock, valued at approximately $2,364,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its stake in shares of Ares Capital by 5.6% during the fourth quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock worth $54,691,000 after buying an additional 138,857 shares during the period. Tectonic Advisors LLC lifted its stake in Ares Capital by 10.8% in the fourth quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock worth $13,403,000 after acquiring an additional 64,491 shares during the last quarter. Prairiewood Capital LLC lifted its stake in Ares Capital by 22.9% in the fourth quarter. Prairiewood Capital LLC now owns 303,282 shares of the investment management company’s stock worth $6,135,000 after acquiring an additional 56,465 shares during the last quarter. Eos Management L.P. acquired a new position in Ares Capital during the 4th quarter worth approximately $1,416,000. Finally, Cornerstone Advisory LLC grew its holdings in Ares Capital by 1,022.6% during the 4th quarter. Cornerstone Advisory LLC now owns 145,943 shares of the investment management company’s stock worth $2,952,000 after acquiring an additional 132,943 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ARCC has been the topic of a number of recent analyst reports. B. Riley Financial dropped 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 decreased their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. JPMorgan Chase & Co. dropped their target price on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $19.00 price target (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Ares Capital Stock Performance

Shares of ARCC opened at $19.65 on Wednesday. The stock has a 50 day moving average price of $18.70 and a 200 day moving average price of $18.88. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 14.56 and a beta of 0.56. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $22.76.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The company had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. During the same period in the prior year, the firm posted $0.50 earnings per share. Research analysts predict that Ares Capital Corporation will post 1.9 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Ares Capital’s dividend payout ratio (DPR) is 142.22%.

About Ares Capital

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.