Evercore Wealth Management LLC Buys 182,651 Shares of Ares Capital Corporation $ARCC

Evercore Wealth Management LLC increased its position in Ares Capital Corporation (NASDAQ:ARCC) by 6.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,121,008 shares of the investment management company’s stock after acquiring an additional 182,651 shares during the quarter. Evercore Wealth Management LLC owned about 0.43% of Ares Capital worth $56,241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of Ares Capital by 2.0% in the fourth quarter. Morgan Stanley now owns 17,558,581 shares of the investment management company’s stock worth $355,210,000 after purchasing an additional 341,578 shares during the period. UBS Group AG raised its position in shares of Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after purchasing an additional 3,301,890 shares during the period. Strs Ohio purchased a new position in shares of Ares Capital during the 1st quarter valued at $189,210,000. Bank of America Corp DE lifted its stake in shares of Ares Capital by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after buying an additional 705,882 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Ares Capital by 16.4% in the 4th quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock worth $109,432,000 after buying an additional 761,838 shares during the period. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company reiterated 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. Royal Bank Of Canada dropped their price objective on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Oppenheimer cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Truist Financial decreased their target price on Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and a consensus price target of $20.60.

Ares Capital Stock Up 0.6%

Shares of ARCC stock opened at $18.89 on Tuesday. The stock has a market cap of $13.56 billion, a P/E ratio of 11.59 and a beta of 0.56. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.12. 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’s fifty day simple moving average is $18.66 and its two-hundred day simple moving average is $18.94.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The company had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Analysts predict that Ares Capital Corporation will post 1.9 EPS for the current fiscal year.

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.