Pasadena Private Wealth LLC Takes Position in Ares Capital Corporation $ARCC

Pasadena Private Wealth LLC purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,275 shares of the investment management company’s stock, valued at approximately $542,000.

Several other large investors have also recently added to or reduced their stakes in the company. Roman Butler Fullerton & Co. boosted its holdings in Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock worth $504,000 after purchasing an additional 528 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Ares Capital by 5.3% during the fourth quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock worth $213,000 after purchasing an additional 532 shares during the period. CWS Financial Advisors LLC lifted its position in shares of Ares Capital by 4.0% in the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company’s stock worth $270,000 after buying an additional 582 shares during the last quarter. Astoria Portfolio Advisors LLC. grew its position in shares of Ares Capital by 5.9% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company’s stock valued at $202,000 after buying an additional 592 shares during the last quarter. Finally, Founders Financial Alliance LLC raised its stake in Ares Capital by 1.8% during the fourth quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company’s stock worth $695,000 after acquiring an additional 620 shares during the period. 27.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ARCC has been the subject of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Truist Financial cut their price target on Ares Capital from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Wall Street Zen downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Citizens Jmp dropped their target price on 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. Finally, JPMorgan Chase & Co. cut their target price on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.40.

Ares Capital Price Performance

Shares of NASDAQ:ARCC opened at $19.80 on Thursday. The firm’s 50 day moving average is $18.90 and its two-hundred day moving average is $18.81. Ares Capital Corporation has a 52 week low of $17.40 and a 52 week high of $22.53. The firm has a market capitalization of $14.22 billion, a P/E ratio of 14.67 and a beta of 0.56. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.14.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.The company had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. Analysts anticipate that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 9.7%. The ex-dividend date is Tuesday, September 15th. Ares Capital’s 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.