Osaic Holdings Inc. Acquires 294,535 Shares of Ares Capital Corporation $ARCC

Osaic Holdings Inc. increased its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 15.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,149,460 shares of the investment management company’s stock after purchasing an additional 294,535 shares during the period. Osaic Holdings Inc.’s holdings in Ares Capital were worth $47,208,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC bought a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $877,203,000. Invesco Ltd. boosted its stake in Ares Capital by 825.4% in the 2nd quarter. Invesco Ltd. now owns 3,551,711 shares of the investment management company’s stock valued at $77,996,000 after buying an additional 3,167,906 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Ares Capital by 18.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,404,876 shares of the investment management company’s stock valued at $140,651,000 after buying an additional 1,006,460 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in Ares Capital by 56.9% in the second quarter. OMERS ADMINISTRATION Corp now owns 2,342,324 shares of the investment management company’s stock valued at $51,437,000 after acquiring an additional 849,097 shares during the period. Finally, Bank of America Corp DE raised its stake in Ares Capital by 8.9% during the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock worth $190,572,000 after acquiring an additional 705,882 shares in the last quarter. 27.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ARCC has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Ares Capital in a report on Monday, December 8th. JPMorgan Chase & Co. lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. Citigroup reissued a “market outperform” rating on shares of Ares Capital in a report on Thursday, October 30th. Wells Fargo & Company reduced their price target on shares of Ares Capital from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.25.

Insiders Place Their Bets

In related news, CEO Michael Kort Schnabel acquired 13,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $20.39 per share, for a total transaction of $265,070.00. Following the transaction, the chief executive officer directly owned 28,000 shares of the company’s stock, valued at approximately $570,920. This trade represents a 86.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by company insiders.

Ares Capital Stock Performance

Shares of NASDAQ:ARCC opened at $20.31 on Tuesday. The business has a fifty day moving average of $20.19 and a 200-day moving average of $21.39. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.20 and a current ratio of 2.20. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The firm has a market cap of $14.54 billion, a PE ratio of 10.16 and a beta of 0.59.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $766.48 million. Ares Capital had a net margin of 45.16% and a return on equity of 10.08%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, equities research analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.5%. Ares Capital’s dividend payout ratio (DPR) is currently 96.00%.

Ares Capital Profile

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.