Bell Bank Has $10.82 Million Holdings in Ares Capital Corporation $ARCC

Bell Bank increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 530,194 shares of the investment management company’s stock after buying an additional 25,402 shares during the period. Ares Capital accounts for approximately 0.5% of Bell Bank’s investment portfolio, making the stock its 28th biggest position. Bell Bank owned approximately 0.08% of Ares Capital worth $10,821,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brown Miller Wealth Management LLC increased its stake in shares of Ares Capital by 3.0% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 83,430 shares of the investment management company’s stock worth $1,703,000 after purchasing an additional 2,407 shares during the last quarter. Tectonic Advisors LLC lifted its stake in Ares Capital by 11.8% in the 3rd quarter. Tectonic Advisors LLC now owns 598,042 shares of the investment management company’s stock valued at $12,206,000 after purchasing an additional 62,887 shares during the last quarter. Golden State Equity Partners grew its holdings in Ares Capital by 12.6% during the third quarter. Golden State Equity Partners now owns 10,867 shares of the investment management company’s stock worth $222,000 after purchasing an additional 1,218 shares during the period. Romano Brothers AND Company increased its position in Ares Capital by 3.7% during the third quarter. Romano Brothers AND Company now owns 356,344 shares of the investment management company’s stock worth $7,256,000 after buying an additional 12,683 shares during the last quarter. Finally, XML Financial LLC increased its position in Ares Capital by 8.8% during the third quarter. XML Financial LLC now owns 16,649 shares of the investment management company’s stock worth $340,000 after buying an additional 1,353 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. JPMorgan Chase & Co. cut their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, October 1st. Wells Fargo & Company reduced their price objective on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. UBS Group dropped their price objective on shares of Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Capital One Financial set a $22.50 target price on shares of Ares Capital in a research note on Friday, October 10th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

Insider Activity

In other Ares Capital 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 acquisition, the chief executive officer 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by insiders.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $20.44 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a market cap of $14.63 billion, a price-to-earnings ratio of 10.22 and a beta of 0.58. The stock’s fifty day moving average price is $20.32 and its two-hundred day moving average price is $21.22. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates 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 $1.59 billion during the quarter, compared to the consensus estimate of $766.48 million. During the same quarter last year, the firm earned $0.58 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.4%. Ares Capital’s payout ratio is currently 96.00%.

About Ares Capital

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.