United Capital Financial Advisors LLC Takes Position in Ares Capital Corporation $ARCC

United Capital Financial Advisors LLC purchased a new position in shares of Ares Capital Corporation (NASDAQ:ARCC) during the second quarter, HoldingsChannel reports. The firm purchased 81,266 shares of the investment management company’s stock, valued at approximately $1,506,000.

Several other institutional investors also recently modified their holdings of ARCC. Palladiem LLC acquired a new stake in Ares Capital in the fourth quarter valued at $26,000. SWAN Capital LLC acquired a new position in Ares Capital during the 3rd quarter worth about $27,000. Sankala Group LLC bought a new stake in shares of Ares Capital in the 4th quarter valued at about $28,000. Core Wealth Advisors LLC acquired a new stake in shares of Ares Capital in the fourth quarter valued at about $33,000. Finally, Quarry LP acquired a new stake in shares of Ares Capital in the third quarter valued at about $33,000. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ARCC. Wall Street Zen lowered Ares Capital from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of 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 lowered their price target on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Keefe, Bruyette & Woods dropped their price target 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. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.40.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $19.95 on Friday. The company has a fifty day moving average of $19.10 and a 200-day moving average of $18.84. The firm has a market capitalization of $14.32 billion, a P/E ratio of 14.78 and a beta of 0.56. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. Ares Capital Corporation has a twelve month low of $17.40 and a twelve month high of $22.51.

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

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given 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 is 142.22%.

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.