Cetera Investment Advisers Has $25.68 Million Stock Position in Ares Capital Corporation $ARCC

Cetera Investment Advisers lowered its position in Ares Capital Corporation (NASDAQ:ARCC) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,424,860 shares of the investment management company’s stock after selling 48,204 shares during the period. Cetera Investment Advisers owned 0.20% of Ares Capital worth $25,676,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Ares Capital by 6.5% in the 1st quarter. AQR Capital Management LLC now owns 16,502 shares of the investment management company’s stock worth $365,000 after purchasing an additional 1,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Ares Capital during the first quarter worth $273,000. Goldman Sachs Group Inc. lifted its stake in shares of Ares Capital by 14.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,835,007 shares of the investment management company’s stock valued at $62,824,000 after buying an additional 358,829 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Ares Capital by 139.9% in the first quarter. Empowered Funds LLC now owns 27,655 shares of the investment management company’s stock valued at $613,000 after buying an additional 16,128 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Ares Capital during the first quarter valued at about $14,766,000. Institutional investors and hedge funds own 27.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Oppenheimer decreased their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Royal Bank Of Canada cut their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Wednesday, April 29th. Truist Financial decreased their price objective on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods dropped their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Price Performance

ARCC opened at $18.78 on Monday. Ares Capital Corporation has a fifty-two week low of $17.40 and a fifty-two week high of $23.15. The firm has a market capitalization of $13.48 billion, a P/E ratio of 11.52 and a beta of 0.56. The company’s 50-day moving average is $18.66 and its 200 day moving average is $18.95. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. Research analysts expect that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.2%. Ares Capital’s dividend payout ratio is currently 117.79%.

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.