Segment Wealth Management LLC Sells 10,012 Shares of Ares Capital Corporation $ARCC

Segment Wealth Management LLC cut its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 30.6% during the second quarter, Holdings Channel.com reports. The fund owned 22,711 shares of the investment management company’s stock after selling 10,012 shares during the period. Segment Wealth Management LLC’s holdings in Ares Capital were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ARCC. Elequin Capital LP acquired a new stake in Ares Capital in the first quarter worth $30,000. Continuum Advisory LLC raised its holdings in Ares Capital by 320.7% in the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,241 shares during the period. Wolff Wiese Magana LLC acquired a new stake in Ares Capital in the second quarter worth $40,000. Investment Management Corp VA ADV raised its holdings in Ares Capital by 193.9% in the first quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,206 shares during the period. Finally, PSI Advisors LLC raised its holdings in Ares Capital by 121.1% in the first quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after purchasing an additional 1,150 shares during the period. 27.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods increased their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Wells Fargo & Company increased their target price on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. UBS Group raised their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ares Capital in a report on Saturday, September 27th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.86.

Ares Capital Stock Performance

Shares of ARCC opened at $20.15 on Friday. The firm has a 50-day moving average of $21.91 and a 200-day moving average of $21.71. Ares Capital Corporation has a one year low of $18.26 and a one year high of $23.84. The company has a market cap of $14.21 billion, a PE ratio of 9.83 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The firm had revenue of $614.00 million during the quarter, compared to the consensus estimate of $748.76 million. During the same period last year, the business earned $0.61 EPS. As a group, equities analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.5%. Ares Capital’s payout ratio is presently 93.66%.

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.