Focus Partners Advisor Solutions LLC Boosts Stake in Ares Capital Corporation $ARCC

Focus Partners Advisor Solutions LLC grew its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 54.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,476 shares of the investment management company’s stock after acquiring an additional 7,571 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Ares Capital were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ARCC. Bessemer Group Inc. grew its holdings in shares of Ares Capital by 23,571.4% during the 1st quarter. Bessemer Group Inc. now owns 3,314 shares of the investment management company’s stock worth $73,000 after acquiring an additional 3,300 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ares Capital by 18.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,840 shares of the investment management company’s stock worth $1,058,000 after acquiring an additional 7,381 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Ares Capital by 0.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company’s stock worth $5,343,000 after buying an additional 1,776 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Ares Capital by 17.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,104,408 shares of the investment management company’s stock worth $24,474,000 after buying an additional 165,773 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Ares Capital by 11.9% in the 1st quarter. Summit Trail Advisors LLC now owns 10,805 shares of the investment management company’s stock worth $239,000 after buying an additional 1,145 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on ARCC shares. Royal Bank Of Canada cut their price target on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Wednesday. JMP Securities set a $23.00 price target on Ares Capital and gave the stock a “market outperform” rating in a research note on Thursday, July 31st. Capital One Financial set a $22.50 price target on Ares Capital in a research note on Friday, October 10th. Keefe, Bruyette & Woods cut their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Citigroup restated an “outperform” rating on shares of Ares Capital in a research note on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Ares Capital presently has an average rating of “Moderate Buy” and a consensus price target of $22.25.

Ares Capital Stock Performance

ARCC stock opened at $20.61 on Thursday. The stock has a market capitalization of $14.54 billion, a PE ratio of 10.31 and a beta of 0.68. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $20.96 and its 200 day simple moving average is $21.55.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, October 28th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $766.48 million. Ares Capital had a return on equity of 10.20% and a net margin of 45.16%.The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. As a group, research analysts forecast that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.3%. The ex-dividend date of this dividend is Monday, December 15th. Ares Capital’s dividend 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.