Dupree Financial Group LLC Makes New Investment in Ares Capital Corporation $ARCC

Dupree Financial Group LLC bought a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 387,184 shares of the investment management company’s stock, valued at approximately $7,395,000. Ares Capital accounts for 1.9% of Dupree Financial Group LLC’s holdings, making the stock its 11th largest position.

A number of other institutional investors have also bought and sold shares of ARCC. Orion Capital Management LLC acquired a new stake in Ares Capital during the 2nd quarter worth about $25,000. Sankala Group LLC bought a new stake in shares of Ares Capital during the 4th quarter valued at about $28,000. Continuum Advisory LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at about $30,000. TOP Private Wealth LLC. acquired a new stake in Ares Capital during the second quarter worth approximately $31,000. Finally, SHP Wealth Management bought a new stake in Ares Capital in the fourth quarter worth approximately $42,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ARCC. Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. Truist Financial cut their target price on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. UBS Group increased their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 1st. Finally, Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ares Capital has an average rating of “Moderate Buy” and an average target price of $20.39.

Ares Capital Stock Down 1.0%

Shares of NASDAQ ARCC opened at $18.56 on Friday. The stock has a market capitalization of $13.33 billion, a P/E ratio of 13.75 and a beta of 0.61. The company has a 50-day moving average price of $19.55 and a 200-day moving average price of $18.94. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $21.14. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.50 EPS. On average, equities research analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Ares Capital’s payout ratio is currently 142.22%.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that operates as a business development company (BDC). It provides financing to middle-market companies, primarily through directly originated loans and other investments. Ares Capital seeks to support businesses that may require capital for acquisitions, growth initiatives, recapitalizations, refinancings and other corporate purposes.

The company invests across a range of industries and typically provides first-lien senior secured loans, second-lien loans, subordinated debt and, to a lesser extent, equity investments.