Baird Financial Group Inc. Has $21.82 Million Position in Ares Capital Corporation $ARCC

Baird Financial Group Inc. grew its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,177,508 shares of the investment management company’s stock after acquiring an additional 87,353 shares during the period. Baird Financial Group Inc. owned 0.16% of Ares Capital worth $21,819,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ARCC. Orion Capital Management LLC acquired a new stake in Ares Capital during the second quarter valued at $25,000. Palladiem LLC acquired a new position in Ares Capital in the 4th quarter worth about $26,000. SWAN Capital LLC acquired a new position in Ares Capital in the 3rd quarter worth about $27,000. Sankala Group LLC purchased a new stake in shares of Ares Capital during the 4th quarter worth about $28,000. Finally, Continuum Advisory LLC bought a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $30,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. JPMorgan Chase & Co. dropped their price target on shares of Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Truist Financial cut their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. UBS Group lifted their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, September 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Friday, September 4th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and an average target price of $20.60.

Ares Capital Stock Up 0.3%

ARCC opened at $19.74 on Friday. The business has a 50 day moving average price of $19.42 and a 200 day moving average price of $18.87. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $22.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $14.17 billion, a P/E ratio of 14.62 and a beta of 0.57.

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

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid 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 9.7%. Ares Capital’s dividend payout ratio (DPR) is presently 142.22%.

Ares Capital Profile

Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company invests primarily in privately originated loans and other debt investments, helping businesses fund acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.

Its investment portfolio generally includes senior secured loans, subordinated debt and mezzanine financing, along with selected equity investments. Ares Capital focuses on companies with established operations across a variety of industries and typically works with private equity sponsors, management teams and other financial partners.

Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.