Allworth Financial LP Has $1.42 Million Stock Position in Ares Capital Corporation $ARCC

Allworth Financial LP grew its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 810.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 64,674 shares of the investment management company’s stock after acquiring an additional 57,567 shares during the period. Allworth Financial LP’s holdings in Ares Capital were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ARCC. Bank of New York Mellon Corp lifted its holdings in Ares Capital by 14.8% during the 1st quarter. Bank of New York Mellon Corp now owns 159,766 shares of the investment management company’s stock worth $3,540,000 after buying an additional 20,552 shares during the period. Wealthfront Advisers LLC raised its position in shares of Ares Capital by 38.6% during the first quarter. Wealthfront Advisers LLC now owns 21,270 shares of the investment management company’s stock worth $471,000 after acquiring an additional 5,923 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in shares of Ares Capital by 9.3% in the first quarter. Verdence Capital Advisors LLC now owns 11,828 shares of the investment management company’s stock worth $262,000 after acquiring an additional 1,002 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Ares Capital by 2.0% in the first quarter. Kingsview Wealth Management LLC now owns 80,691 shares of the investment management company’s stock valued at $1,788,000 after acquiring an additional 1,604 shares during the last quarter. Finally, Independent Wealth Network Inc. increased its position in Ares Capital by 4.8% during the 1st quarter. Independent Wealth Network Inc. now owns 49,774 shares of the investment management company’s stock valued at $1,103,000 after purchasing an additional 2,269 shares during the period. Institutional investors own 27.38% of the company’s stock.

Insider Activity at Ares Capital

In other news, CEO Michael Kort Schnabel bought 13,000 shares of the stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $20.39 per share, with a total value of $265,070.00. Following the completion of the transaction, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at $570,920. This trade represents a 86.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.

Ares Capital Trading Down 0.4%

ARCC opened at $20.29 on Friday. The company has a fifty day moving average price of $20.51 and a two-hundred day moving average price of $21.53. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a market cap of $14.52 billion, a P/E ratio of 10.15 and a beta of 0.68. The company has a current ratio of 2.20, a quick ratio of 1.14 and a debt-to-equity ratio of 1.09.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $766.48 million. During the same period last year, the business posted $0.58 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend payout ratio (DPR) is 96.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARCC. JPMorgan Chase & Co. lowered their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ares Capital in a research report on Thursday, October 30th. Capital One Financial set a $22.50 target price on shares of Ares Capital in a report on Friday, October 10th. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the company a “market outperform” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Eight equities 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.25.

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.