Vanguard Personalized Indexing Management LLC Decreases Stake in Ares Capital Corporation $ARCC

Vanguard Personalized Indexing Management LLC lowered its position in Ares Capital Corporation (NASDAQ:ARCC) by 21.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,184 shares of the investment management company’s stock after selling 2,858 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Ares Capital were worth $224,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new position in Ares Capital in the 1st quarter valued at $30,000. Wolff Wiese Magana LLC acquired a new stake in shares of Ares Capital in the 2nd quarter worth $40,000. Investment Management Corp VA ADV increased its stake in shares of Ares Capital by 193.9% in the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after acquiring an additional 1,206 shares during the last quarter. Archer Investment Corp increased its stake in shares of Ares Capital by 281.3% in the 1st quarter. Archer Investment Corp now owns 2,440 shares of the investment management company’s stock worth $54,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Ares Capital by 137.6% in the 1st quarter. Rosenberg Matthew Hamilton now owns 2,704 shares of the investment management company’s stock worth $60,000 after acquiring an additional 1,566 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. JMP Securities set a $23.00 target price on Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Wells Fargo & Company raised their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Citigroup reaffirmed an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. Capital One Financial set a $22.50 target price on Ares Capital in a research note on Friday, October 10th. Finally, Keefe, Bruyette & Woods raised their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $20.08 on Friday. The business has a 50-day moving average of $21.07 and a 200 day moving average of $21.54. Ares Capital Corporation has a 12 month low of $18.26 and a 12 month high of $23.84. The stock has a market capitalization of $14.16 billion, a price-to-earnings ratio of 9.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14.

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

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, 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 9.6%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is 93.66%.

Ares Capital Profile

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.