NFSG Corp Has $948,000 Holdings in Ares Capital Corporation $ARCC

NFSG Corp decreased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 68.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 52,621 shares of the investment management company’s stock after selling 112,149 shares during the quarter. NFSG Corp’s holdings in Ares Capital were worth $948,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Palladiem LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth approximately $26,000. SWAN Capital LLC purchased a new position in shares of Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC purchased a new position in shares of Ares Capital during the fourth quarter valued at approximately $28,000. Core Wealth Advisors LLC bought a new stake in Ares Capital during the fourth quarter worth $33,000. Finally, Quarry LP bought a new stake in Ares Capital during the third quarter worth $33,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citizens Jmp dropped their price objective on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Oppenheimer reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Ares Capital Price Performance

ARCC opened at $18.79 on Wednesday. The firm has a 50-day moving average price of $18.65 and a 200-day moving average price of $19.03. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $23.42. 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 company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 11.53 and a beta of 0.56.

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 analysts’ expectations of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Equities analysts expect that Ares Capital Corporation will post 1.9 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a $0.48 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.2%. Ares Capital’s payout ratio is 117.79%.

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.