Diversify Wealth Management LLC Raises Position in Ares Capital Corporation $ARCC

Diversify Wealth Management LLC grew its position in Ares Capital Corporation (NASDAQ:ARCC) by 223.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 41,893 shares of the investment management company’s stock after buying an additional 28,960 shares during the period. Diversify Wealth Management LLC’s holdings in Ares Capital were worth $782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ARCC. Investment Partners Asset Management Inc. purchased a new position in shares of Ares Capital in the fourth quarter worth $1,314,000. Sound Income Strategies LLC boosted its position in shares of Ares Capital by 5.6% during the fourth quarter. Sound Income Strategies LLC now owns 2,616,789 shares of the investment management company’s stock valued at $54,691,000 after buying an additional 138,857 shares during the last quarter. Tectonic Advisors LLC boosted its position in shares of Ares Capital by 10.8% during the fourth quarter. Tectonic Advisors LLC now owns 662,533 shares of the investment management company’s stock valued at $13,403,000 after buying an additional 64,491 shares during the last quarter. Stableford Capital II LLC boosted its position in shares of Ares Capital by 75.7% during the fourth quarter. Stableford Capital II LLC now owns 145,641 shares of the investment management company’s stock valued at $2,946,000 after buying an additional 62,768 shares during the last quarter. Finally, Prairiewood Capital LLC increased its holdings in Ares Capital by 22.9% in the 4th quarter. Prairiewood Capital LLC now owns 303,282 shares of the investment management company’s stock worth $6,135,000 after buying an additional 56,465 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ARCC shares. Citizens Jmp decreased their target price on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Oppenheimer dropped 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 Wednesday, April 29th. B. Riley Financial reduced their price target on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Truist Financial decreased their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Up 1.5%

Ares Capital stock opened at $19.21 on Friday. The stock has a market cap of $13.79 billion, a PE ratio of 11.79 and a beta of 0.56. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a one year low of $17.40 and a one year high of $23.42. The stock has a fifty day moving average of $18.65 and a 200 day moving average of $19.02.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $763.00 million during the quarter, compared to analysts’ expectations 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 business posted $0.50 earnings per share. As a group, sell-side analysts predict that Ares Capital Corporation will post 1.9 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 10.0%. The ex-dividend date was Monday, June 15th. Ares Capital’s dividend payout ratio is 117.79%.

Ares Capital 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.