Public Employees Retirement System of Ohio Makes New $1.86 Million Investment in Ares Capital Corporation $ARCC

Public Employees Retirement System of Ohio bought a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 100,374 shares of the investment management company’s stock, valued at approximately $1,860,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Palladiem LLC bought a new position in Ares Capital in the fourth quarter valued at approximately $26,000. SWAN Capital LLC acquired a new position in Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC bought a new stake in Ares Capital during the fourth quarter worth $28,000. Quarry LP bought a new stake in Ares Capital during the third quarter worth $33,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Ares Capital in the 4th quarter valued at $33,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARCC. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price target (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. JPMorgan Chase & Co. dropped their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Truist Financial reduced their price objective on Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. UBS Group lifted their target price on Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, September 1st. Finally, Keefe, Bruyette & Woods lowered their target price on Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $20.04 on Monday. The company has a fifty day moving average of $19.30 and a 200-day moving average of $18.85. The company has a market capitalization of $14.39 billion, a PE ratio of 14.84 and a beta of 0.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $22.51.

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

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 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 9.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 142.22%.

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.