OMERS ADMINISTRATION Corp Increases Holdings in Ares Capital Corporation $ARCC

OMERS ADMINISTRATION Corp grew its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 7.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,360,055 shares of the investment management company’s stock after acquiring an additional 154,541 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Ares Capital were worth $47,744,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ARCC. UBS Group AG raised its position in Ares Capital by 41.8% in the 4th quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock worth $226,615,000 after purchasing an additional 3,301,890 shares during the period. Marshall Wace LLP purchased a new stake in Ares Capital in the 3rd quarter worth about $36,943,000. Legal & General Group Plc raised its position in Ares Capital by 16.4% in the 4th quarter. Legal & General Group Plc now owns 5,408,067 shares of the investment management company’s stock worth $109,432,000 after purchasing an additional 761,838 shares during the period. Bank of America Corp DE raised its position in Ares Capital by 8.9% in the 2nd quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock worth $190,572,000 after purchasing an additional 705,882 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in Ares Capital in the 1st quarter worth about $14,766,000. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Shares of ARCC stock opened at $18.62 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $13.37 billion, a P/E ratio of 11.42 and a beta of 0.56. The company’s 50-day simple moving average is $18.77 and its two-hundred day simple moving average is $19.35. Ares Capital Corporation has a one year low of $17.40 and a one year high of $23.42.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.Ares Capital’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, equities analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.3%. The ex-dividend date is Monday, June 15th. Ares Capital’s dividend payout ratio is currently 117.79%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ARCC. JPMorgan Chase & Co. reduced their price objective on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Wells Fargo & Company reissued an “equal weight” rating and issued a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Capital in a research report on Tuesday, June 9th. Truist Financial reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada reduced their price objective on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Ares Capital currently has an average rating of “Moderate Buy” and a consensus target price of $20.65.

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.