250,049 Shares in Ares Capital Corporation $ARCC Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc purchased a new stake in Ares Capital Corporation (NASDAQ:ARCC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 250,049 shares of the investment management company’s stock, valued at approximately $4,633,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Palladiem LLC acquired a new position in Ares Capital during the 4th quarter worth $26,000. SWAN Capital LLC bought a new position in shares of Ares Capital during the third quarter worth about $27,000. Sankala Group LLC acquired a new position in Ares Capital in the fourth quarter worth about $28,000. Core Wealth Advisors LLC bought a new stake in Ares Capital in the fourth quarter valued at about $33,000. Finally, Quarry LP bought a new stake in Ares Capital in the third quarter valued at about $33,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of NASDAQ ARCC opened at $19.64 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average price is $18.88 and its two-hundred day moving average price is $18.82. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $22.62. The stock has a market capitalization of $14.10 billion, a P/E ratio of 14.55 and a beta of 0.56.

Ares Capital (NASDAQ:ARCC) last issued its 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 company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same period in the previous year, the firm posted $0.50 earnings per share. As a group, sell-side analysts forecast that Ares Capital Corporation will post 1.91 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.8%. Ares Capital’s dividend payout ratio (DPR) is 142.22%.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research analyst reports. Royal Bank Of Canada reduced their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $19.00 price target (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. JPMorgan Chase & Co. reduced their price objective 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. Oppenheimer decreased their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, April 29th. Finally, Citizens Jmp lowered their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Ares Capital 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.