Intellectus Partners LLC Boosts Stock Holdings in Ares Capital Corporation $ARCC

Intellectus Partners LLC raised its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 22.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,388 shares of the investment management company’s stock after purchasing an additional 27,230 shares during the quarter. Intellectus Partners LLC’s holdings in Ares Capital were worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. UBS Group AG boosted its stake in shares of Ares Capital by 41.8% in the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after buying an additional 3,301,890 shares in the last quarter. Marshall Wace LLP acquired a new stake in Ares Capital in the third quarter valued at $36,943,000. Legal & General Group Plc boosted its position in shares of Ares Capital by 16.4% during the 4th quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock worth $109,432,000 after purchasing an additional 761,838 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Ares Capital by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock worth $190,572,000 after purchasing an additional 705,882 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 1st quarter worth $14,766,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARCC has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. B. Riley Financial dropped their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Truist Financial decreased their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $20.75.

Ares Capital Price Performance

Ares Capital stock opened at $18.68 on Thursday. The firm has a market capitalization of $13.41 billion, a PE ratio of 11.46 and a beta of 0.56. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42. The firm’s 50-day simple moving average is $18.60 and its 200 day simple moving average is $19.40. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.13.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to analysts’ expectations of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The business’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. On average, equities research analysts predict that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is 117.79%.

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.