Focus Financial Network Inc. Has $299,000 Stock Holdings in Ares Capital Corporation $ARCC

Focus Financial Network Inc. decreased its stake in Ares Capital Corporation (NASDAQ:ARCC) by 91.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,607 shares of the investment management company’s stock after selling 155,170 shares during the period. Focus Financial Network Inc.’s holdings in Ares Capital were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ARCC. Mirador Capital Partners LP boosted its position in shares of Ares Capital by 2.1% during the 2nd quarter. Mirador Capital Partners LP now owns 252,123 shares of the investment management company’s stock valued at $5,537,000 after purchasing an additional 5,095 shares in the last quarter. Fiduciary Alliance LLC boosted its position in shares of Ares Capital by 3.1% during the 2nd quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock valued at $379,000 after purchasing an additional 516 shares in the last quarter. Bank of New Hampshire boosted its position in shares of Ares Capital by 2.6% during the 2nd quarter. Bank of New Hampshire now owns 83,457 shares of the investment management company’s stock valued at $1,833,000 after purchasing an additional 2,150 shares in the last quarter. Key Client Fiduciary Advisors LLC boosted its position in shares of Ares Capital by 3.4% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 63,721 shares of the investment management company’s stock valued at $1,399,000 after purchasing an additional 2,116 shares in the last quarter. Finally, Webster Bank N. A. boosted its position in shares of Ares Capital by 67.3% during the 2nd quarter. Webster Bank N. A. now owns 24,757 shares of the investment management company’s stock valued at $544,000 after purchasing an additional 9,955 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Price Performance

Ares Capital stock opened at $21.56 on Monday. Ares Capital Corporation has a 52 week low of $18.26 and a 52 week high of $23.84. The business has a 50-day simple moving average of $22.42 and a 200 day simple moving average of $21.81. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock has a market cap of $15.21 billion, a price-to-earnings ratio of 10.52 and a beta of 0.70.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The business had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, research analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.92 annualized dividend and a yield of 8.9%. Ares Capital’s payout ratio is 93.66%.

Analysts Set New Price Targets

Several brokerages recently commented on ARCC. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. JMP Securities set a $23.00 price target on Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Citigroup reiterated an “outperform” rating on shares of Ares Capital in a report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $22.86.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.