Wealthcare Advisory Partners LLC Increases Holdings in Ares Capital Corporation $ARCC

Wealthcare Advisory Partners LLC increased its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC) by 48.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 178,218 shares of the investment management company’s stock after purchasing an additional 57,975 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Ares Capital were worth $3,914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Taylor Frigon Capital Management LLC grew its holdings in Ares Capital by 20.9% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 126,366 shares of the investment management company’s stock valued at $2,775,000 after buying an additional 21,847 shares in the last quarter. Confluence Investment Management LLC grew its stake in Ares Capital by 0.6% during the second quarter. Confluence Investment Management LLC now owns 3,796,791 shares of the investment management company’s stock valued at $83,378,000 after acquiring an additional 21,344 shares in the last quarter. Rollins Financial Advisors LLC increased its holdings in Ares Capital by 10.2% in the 1st quarter. Rollins Financial Advisors LLC now owns 138,139 shares of the investment management company’s stock valued at $3,061,000 after acquiring an additional 12,838 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Ares Capital by 3.2% in the 2nd quarter. Sound Income Strategies LLC now owns 2,453,944 shares of the investment management company’s stock worth $53,889,000 after purchasing an additional 75,109 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in 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 purchasing an additional 1,776 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Price Performance

ARCC opened at $20.15 on Monday. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 9.83 and a beta of 0.68. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.01. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.84. The business’s fifty day simple moving average is $21.91 and its 200-day simple moving average is $21.71.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a return on equity of 10.48% and a net margin of 44.94%.The business had revenue of $614.00 million during the quarter, compared to analysts’ expectations of $748.76 million. During the same period last year, the company earned $0.61 earnings per share. On average, equities research analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend was Monday, September 15th. Ares Capital’s dividend payout ratio (DPR) is presently 93.66%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price objective on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. B. Riley upgraded Ares Capital from a “neutral” rating to a “buy” rating and increased their target price for the company from $22.50 to $23.50 in a research report on Wednesday, July 30th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 1st. Finally, UBS Group increased their price objective on shares of Ares Capital from $22.00 to $22.50 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and a consensus target price of $22.86.

About Ares Capital

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.