The Manufacturers Life Insurance Company Grows Stake in Ares Capital Corporation $ARCC

The Manufacturers Life Insurance Company increased its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 21.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 378,669 shares of the investment management company’s stock after purchasing an additional 66,329 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Ares Capital worth $6,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Roman Butler Fullerton & Co. increased its stake in Ares Capital by 1.9% during the 1st quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock worth $504,000 after buying an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Ares Capital by 5.3% in the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock valued at $213,000 after acquiring an additional 532 shares in the last quarter. Perigon Wealth Management LLC lifted its position in shares of Ares Capital by 1.6% in the fourth quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock valued at $702,000 after acquiring an additional 547 shares in the last quarter. Diversify Advisory Services LLC boosted its stake in shares of Ares Capital by 2.0% in the fourth quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock worth $589,000 after acquiring an additional 563 shares during the last quarter. Finally, CWS Financial Advisors LLC raised its stake in Ares Capital by 4.0% in the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock valued at $270,000 after purchasing an additional 582 shares during the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Shares of ARCC stock opened at $19.32 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s 50-day moving average is $18.71 and its two-hundred day moving average is $18.86. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $22.76. The company has a market capitalization of $13.87 billion, a PE ratio of 14.31 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $770.19 million. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. During the same quarter in the prior year, the company posted $0.50 EPS. Analysts predict that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.48 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.9%. Ares Capital’s payout ratio is currently 142.22%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. B. Riley Financial lowered their target price on shares of Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Keefe, Bruyette & Woods dropped their target price on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Truist Financial reduced their target price on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Royal Bank Of Canada lowered their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a research note on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and an average target price of $20.40.

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.