J.Safra Asset Management Corp Has $227,000 Stake in Ares Capital Corporation $ARCC

J.Safra Asset Management Corp boosted its stake in Ares Capital Corporation (NASDAQ:ARCC) by 8.0% in the second quarter, HoldingsChannel.com reports. The firm owned 10,364 shares of the investment management company’s stock after buying an additional 766 shares during the period. J.Safra Asset Management Corp’s holdings in Ares Capital were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elequin Capital LP acquired a new stake in Ares Capital in the first quarter valued at $30,000. Continuum Advisory LLC raised its holdings in Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock worth $36,000 after purchasing an additional 1,241 shares during the last quarter. Wolff Wiese Magana LLC bought a new position in Ares Capital during the 2nd quarter worth approximately $40,000. Investment Management Corp VA ADV raised its holdings in Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,206 shares during the last quarter. Finally, PSI Advisors LLC raised its holdings in Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock worth $47,000 after purchasing an additional 1,150 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on ARCC shares. Keefe, Bruyette & Woods raised their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. JMP Securities set a $23.00 price target on shares of Ares Capital and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Ares Capital in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Saturday. Finally, B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and raised their price target for the stock from $22.50 to $23.50 in a report on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $19.94 on Wednesday. The company has a fifty day moving average of $21.50 and a 200-day moving average of $21.59. The firm has a market capitalization of $14.07 billion, a P/E ratio of 9.73 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.01. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84.

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 the consensus estimate of $0.51 by ($0.01). The company had revenue of $614.00 million during the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.6%. The ex-dividend date was Monday, September 15th. Ares Capital’s payout ratio is 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.