Ares Capital Corporation $ARCC Shares Bought by AE Wealth Management LLC

AE Wealth Management LLC grew its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,033 shares of the investment management company’s stock after purchasing an additional 35,119 shares during the period. AE Wealth Management LLC’s holdings in Ares Capital were worth $4,654,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. City Holding Co. lifted its holdings in shares of Ares Capital by 444.4% during the 3rd quarter. City Holding Co. now owns 1,225 shares of the investment management company’s stock worth $25,000 after acquiring an additional 1,000 shares during the period. SWAN Capital LLC purchased a new position in shares of Ares Capital during the 3rd quarter worth about $27,000. NBT Bank N A NY purchased a new position in shares of Ares Capital during the 3rd quarter worth about $31,000. Quarry LP purchased a new position in shares of Ares Capital during the 3rd quarter worth about $33,000. Finally, Ameriflex Group Inc. lifted its holdings in shares of Ares Capital by 201.0% during the 3rd quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock worth $36,000 after acquiring an additional 1,178 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ARCC has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, March 13th. B. Riley Financial restated a “buy” rating on shares of Ares Capital in a report on Monday, February 9th. Wells Fargo & Company cut their price target on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Keefe, Bruyette & Woods cut their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, UBS Group cut their price target on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Insider Buying and Selling at Ares Capital

In other Ares Capital news, CEO Michael Kort Schnabel bought 12,500 shares of the stock in a transaction on Thursday, February 5th. The stock was purchased at an average price of $19.13 per share, for a total transaction of $239,125.00. Following the completion of the purchase, the chief executive officer directly owned 40,500 shares in the company, valued at approximately $774,765. This trade represents a 44.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott C. Lem bought 5,186 shares of the stock in a transaction on Friday, February 6th. The shares were acquired at an average price of $19.29 per share, with a total value of $100,037.94. Following the purchase, the chief financial officer owned 39,463 shares of the company’s stock, valued at $761,241.27. The trade was a 15.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.49% of the stock is owned by insiders.

Ares Capital Price Performance

Shares of ARCC opened at $19.09 on Monday. The firm has a market cap of $13.71 billion, a price-to-earnings ratio of 10.26 and a beta of 0.58. The stock has a 50 day moving average of $18.62 and a 200-day moving average of $19.66. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.12. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 4th. The investment management company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The company had revenue of $793.00 million during the quarter, compared to analyst estimates of $795.20 million. During the same quarter last year, the firm earned $0.55 EPS. The business’s revenue was up 4.5% on a year-over-year basis. As a group, analysts forecast that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, March 13th. This represents a $1.92 annualized dividend and a yield of 10.1%. Ares Capital’s payout ratio is presently 103.23%.

Ares Capital Company Profile

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.