Global Retirement Partners LLC Takes $449,000 Position in Ares Capital Corporation $ARCC

Global Retirement Partners LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,458 shares of the investment management company’s stock, valued at approximately $449,000.

Several other institutional investors have also added to or reduced their stakes in ARCC. Aurora Private Wealth Inc. increased its position in Ares Capital by 1.5% during the 2nd quarter. Aurora Private Wealth Inc. now owns 28,983 shares of the investment management company’s stock worth $636,000 after buying an additional 436 shares during the period. Community Trust & Investment Co. grew its stake in shares of Ares Capital by 0.3% in the second quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company’s stock valued at $3,296,000 after acquiring an additional 454 shares in the last quarter. Prostatis Group LLC grew its stake in shares of Ares Capital by 2.1% in the first quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company’s stock valued at $482,000 after acquiring an additional 457 shares in the last quarter. Fountainhead AM LLC increased its position in Ares Capital by 5.5% during the second quarter. Fountainhead AM LLC now owns 9,728 shares of the investment management company’s stock worth $214,000 after acquiring an additional 511 shares during the period. Finally, Fiduciary Alliance LLC raised its stake in Ares Capital by 3.1% in the 2nd quarter. Fiduciary Alliance LLC now owns 17,236 shares of the investment management company’s stock worth $379,000 after purchasing an additional 516 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on ARCC shares. Royal Bank Of Canada decreased their target price on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Wells Fargo & Company reduced their price target on Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. UBS Group dropped their price objective on Ares Capital from $22.50 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research report on Thursday, October 30th. Finally, Keefe, Bruyette & Woods decreased their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

Insider Activity

In related news, CEO Michael Kort Schnabel acquired 13,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the transaction, the chief executive officer directly owned 28,000 shares in the company, valued at $570,920. This trade represents a 86.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.48% of the company’s stock.

Ares Capital Trading Up 0.9%

Shares of ARCC stock opened at $20.69 on Friday. Ares Capital Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $23.84. The stock’s fifty day moving average price is $20.11 and its two-hundred day moving average price is $21.47. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.14 and a current ratio of 2.20. The company has a market cap of $14.80 billion, a PE ratio of 10.34 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $766.48 million. During the same period in the prior year, the company earned $0.58 EPS. Ares Capital’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders 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 dividend yield of 9.3%. The ex-dividend date is Monday, December 15th. Ares Capital’s dividend payout ratio (DPR) is presently 96.00%.

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.