Private Trust Co. NA Increases Holdings in Ares Capital Corporation $ARCC

Private Trust Co. NA grew its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 16.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,655 shares of the investment management company’s stock after acquiring an additional 3,679 shares during the period. Private Trust Co. NA’s holdings in Ares Capital were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Harbor Asset Planning Inc. purchased a new position in shares of Ares Capital in the second quarter valued at about $38,000. WealthPlan Investment Management LLC lifted its position in shares of Ares Capital by 46.3% in the second quarter. WealthPlan Investment Management LLC now owns 62,276 shares of the investment management company’s stock valued at $1,368,000 after acquiring an additional 19,698 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Ares Capital by 128.2% in the second quarter. Mutual Advisors LLC now owns 366,459 shares of the investment management company’s stock valued at $8,469,000 after acquiring an additional 205,893 shares in the last quarter. J.Safra Asset Management Corp lifted its position in shares of Ares Capital by 8.0% in the second quarter. J.Safra Asset Management Corp now owns 10,364 shares of the investment management company’s stock valued at $227,000 after acquiring an additional 766 shares in the last quarter. Finally, Morningstar Investment Management LLC lifted its position in shares of Ares Capital by 11.8% in the second quarter. Morningstar Investment Management LLC now owns 20,879 shares of the investment management company’s stock worth $459,000 after buying an additional 2,210 shares in the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Trading Down 0.1%

Shares of ARCC stock opened at $19.51 on Monday. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $21.33 and its two-hundred day simple moving average is $21.53. The company has a market cap of $13.76 billion, a PE ratio of 9.52 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (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 company had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. During the same quarter last year, the company earned $0.61 earnings per share. Research analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.8%. Ares Capital’s dividend payout ratio is 93.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ARCC shares. JPMorgan Chase & Co. decreased their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Ares Capital in a research report on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $22.50 to $23.50 in a research report on Wednesday, July 30th. Finally, Capital One Financial set a $22.50 target price on Ares Capital in a research report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ares Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.63.

Ares Capital Company 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.