Ares Capital Co. (NASDAQ:ARCC) Position Boosted by Accel Wealth Management

Accel Wealth Management raised its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 43.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,283 shares of the investment management company’s stock after acquiring an additional 11,580 shares during the quarter. Accel Wealth Management’s holdings in Ares Capital were worth $797,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC grew its stake in shares of Ares Capital by 5.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock valued at $7,913,000 after buying an additional 20,202 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Ares Capital by 614.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,198 shares of the investment management company’s stock worth $144,000 after purchasing an additional 6,191 shares during the last quarter. NewEdge Wealth LLC acquired a new stake in Ares Capital in the 4th quarter worth approximately $1,497,000. Anchor Investment Management LLC acquired a new stake in Ares Capital in the 4th quarter worth approximately $123,000. Finally, Gilbert & Cook Inc. lifted its holdings in Ares Capital by 6.6% in the 4th quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock worth $27,737,000 after purchasing an additional 85,561 shares during the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

Shares of NASDAQ ARCC traded up $0.08 during trading hours on Thursday, reaching $20.96. The stock had a trading volume of 1,336,444 shares, compared to its average volume of 3,562,108. The business’s fifty day moving average is $21.04 and its two-hundred day moving average is $20.53. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $12.88 billion, a price-to-earnings ratio of 7.18 and a beta of 1.01. Ares Capital Co. has a twelve month low of $18.55 and a twelve month high of $21.84.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $701.00 million during the quarter, compared to analyst estimates of $703.85 million. Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 earnings per share. As a group, research analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.16%. Ares Capital’s payout ratio is 65.75%.

Wall Street Analysts Forecast Growth

ARCC has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Truist Financial boosted their target price on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Ares Capital in a report on Tuesday, March 26th. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Thursday, May 23rd. Finally, Oppenheimer upped their price target on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.50.

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.