Kavar Capital Partners Group LLC Buys New Position in Ares Capital Corporation $ARCC

Kavar Capital Partners Group LLC purchased a new position in Ares Capital Corporation (NASDAQ:ARCC) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 262,319 shares of the investment management company’s stock, valued at approximately $4,727,000.

A number of other institutional investors have also made changes to their positions in the company. Canal Capital Management LLC increased its position in Ares Capital by 1.6% in the fourth quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock worth $667,000 after buying an additional 520 shares during the period. First Citizens Bank & Trust Co. lifted its position in shares of Ares Capital by 5.3% during the 4th 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 during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Ares Capital by 1.6% in the 4th quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 547 shares during the period. Diversify Advisory Services LLC boosted its holdings 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 buying an additional 563 shares during the period. Finally, Parallel Advisors LLC raised its stake in Ares Capital by 1.0% during the 3rd quarter. Parallel Advisors LLC now owns 57,092 shares of the investment management company’s stock valued at $1,165,000 after purchasing an additional 567 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARCC. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $19.00 target price (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Citizens Jmp lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. UBS Group dropped their price target on shares of Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. JPMorgan Chase & Co. decreased their target price on Ares Capital from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Finally, Keefe, Bruyette & Woods cut their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and a consensus price target of $20.65.

Ares Capital Price Performance

ARCC opened at $18.03 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $23.42. The firm has a market capitalization of $12.95 billion, a PE ratio of 11.06 and a beta of 0.56. The company has a fifty day moving average price of $18.77 and a two-hundred day moving average price of $19.29.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm had revenue of $763.00 million for the quarter, compared to the consensus estimate of $778.00 million. During the same period in the prior year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio (DPR) is currently 117.79%.

About Ares Capital

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.