Prospera Financial Services Inc Boosts Holdings in Ares Capital Corporation $ARCC

Prospera Financial Services Inc lifted its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 383.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,955 shares of the investment management company’s stock after acquiring an additional 68,184 shares during the period. Prospera Financial Services Inc’s holdings in Ares Capital were worth $1,888,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ARCC. Kingstone Capital Partners Texas LLC purchased a new position in Ares Capital during the second quarter worth approximately $877,203,000. Confluence Investment Management LLC grew its stake in shares of Ares Capital by 0.6% during the 2nd quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after buying an additional 21,344 shares during the period. Advisors Capital Management LLC increased its holdings in shares of Ares Capital by 3.0% during the 1st quarter. Advisors Capital Management LLC now owns 3,627,990 shares of the investment management company’s stock worth $80,396,000 after buying an additional 104,339 shares during the last quarter. LPL Financial LLC raised its position in shares of Ares Capital by 9.0% in the 1st quarter. LPL Financial LLC now owns 3,567,816 shares of the investment management company’s stock worth $79,063,000 after buying an additional 293,442 shares during the period. Finally, Allen Investment Management LLC raised its position in shares of Ares Capital by 8.4% in the 1st quarter. Allen Investment Management LLC now owns 2,975,197 shares of the investment management company’s stock worth $65,930,000 after buying an additional 230,924 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Trading Up 0.1%

Shares of NASDAQ ARCC opened at $20.31 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.20 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $20.59 and its two-hundred day moving average price is $21.55. Ares Capital Corporation has a 52-week low of $18.26 and a 52-week high of $23.84. The stock has a market capitalization of $14.54 billion, a P/E ratio of 10.16 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, October 28th. The investment management company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $766.48 million. Ares Capital had a return on equity of 10.08% and a net margin of 45.16%.The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 EPS. On average, analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, December 15th. This represents a $1.92 annualized dividend and a yield of 9.5%. Ares Capital’s payout ratio is presently 96.00%.

Insider Buying and Selling at Ares Capital

In other Ares Capital news, CEO Michael Kort Schnabel purchased 13,000 shares of Ares Capital stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $20.39 per share, for a total transaction of $265,070.00. Following the transaction, the chief executive officer owned 28,000 shares in the company, valued at $570,920. This represents a 86.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.48% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Ares Capital from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, October 1st. Capital One Financial set a $22.50 price target on shares of Ares Capital in a report on Friday, October 10th. Royal Bank Of Canada decreased their price objective on shares of Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.25.

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.