98,856 Shares in Ares Capital Corporation $ARCC Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the second quarter, Holdings Channel.com reports. The fund purchased 98,856 shares of the investment management company’s stock, valued at approximately $1,832,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roman Butler Fullerton & Co. raised its stake in shares of Ares Capital by 1.9% in the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after acquiring an additional 528 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in Ares Capital by 5.3% during the 4th quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock valued at $213,000 after acquiring an additional 532 shares during the period. CWS Financial Advisors LLC boosted its stake in shares of Ares Capital by 4.0% in the first quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 582 shares during the period. Astoria Portfolio Advisors LLC. boosted its position in Ares Capital by 5.9% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock valued at $202,000 after buying an additional 592 shares during the period. Finally, Founders Financial Alliance LLC boosted its holdings in Ares Capital by 1.8% in the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock valued at $695,000 after purchasing an additional 620 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Shares of ARCC opened at $19.78 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $22.53. The firm has a market capitalization of $14.20 billion, a PE ratio of 14.65 and a beta of 0.56. The stock’s 50 day moving average is $18.92 and its two-hundred day moving average is $18.81.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The firm had revenue of $768.00 million for the quarter, compared to analyst estimates of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same quarter in the prior year, the company posted $0.50 earnings per share. Research analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.7%. Ares Capital’s payout ratio is currently 142.22%.

Analyst Upgrades and Downgrades

Several research analysts have commented on ARCC shares. Truist Financial lowered their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 30th. B. Riley Financial lowered their price target on Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Oppenheimer cut their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

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.