Wealthcare Advisory Partners LLC Buys 32,983 Shares of Ares Capital Corporation $ARCC

Wealthcare Advisory Partners LLC lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 14.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 264,044 shares of the investment management company’s stock after buying an additional 32,983 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Ares Capital were worth $4,893,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Strs Ohio purchased a new stake in Ares Capital in the 1st quarter valued at $189,210,000. UBS Group AG boosted its holdings in Ares Capital by 41.8% during the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after acquiring an additional 3,301,890 shares during the last quarter. Marshall Wace LLP purchased a new position in Ares Capital during the 3rd quarter worth $36,943,000. Altshuler Shaham Ltd bought a new stake in shares of Ares Capital in the 4th quarter worth $33,380,000. Finally, Michael & Susan Dell Foundation bought a new stake in shares of Ares Capital in the 4th quarter worth $26,089,000. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

Shares of NASDAQ ARCC opened at $19.97 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $18.79 and a two-hundred day simple moving average of $18.84. Ares Capital Corporation has a 1-year low of $17.40 and a 1-year high of $22.76. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 14.79 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last issued 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 firm had revenue of $768.00 million for 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 quarter in the prior year, the firm earned $0.50 EPS. Analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed 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. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s payout ratio is currently 142.22%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARCC shares. Keefe, Bruyette & Woods lowered their target price on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective 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 decreased their price objective on shares of Ares Capital from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Finally, B. Riley Financial cut their target price on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Eight 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

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.