GoalVest Advisory LLC Buys 1,425 Shares of Ares Capital Corporation $ARCC

GoalVest Advisory LLC increased its stake in shares of Ares Capital Corporation (NASDAQ:ARCC) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,015 shares of the investment management company’s stock after acquiring an additional 1,425 shares during the quarter. GoalVest Advisory LLC’s holdings in Ares Capital were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ARCC. Elequin Capital LP purchased a new position in Ares Capital in the 1st quarter worth approximately $30,000. CNB Bank purchased a new position in Ares Capital in the 2nd quarter worth approximately $36,000. Harbor Asset Planning Inc. purchased a new position in Ares Capital in the 2nd quarter worth approximately $38,000. Wolff Wiese Magana LLC purchased a new position in Ares Capital in the 2nd quarter worth approximately $40,000. Finally, Investment Management Corp VA ADV increased its stake in Ares Capital by 193.9% in 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 period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Trading Up 0.7%

NASDAQ ARCC opened at $20.08 on Monday. 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. The firm has a market capitalization of $14.16 billion, a PE ratio of 9.80 and a beta of 0.68. The stock’s 50 day moving average is $21.07 and its 200 day moving average is $21.55.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results 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). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The firm had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. During the same quarter in the prior year, the firm earned $0.61 earnings per share. 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 was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 annualized dividend and a dividend yield of 9.6%. Ares Capital’s payout ratio is currently 93.66%.

Analysts Set New Price Targets

ARCC has been the topic of a number of analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Ares Capital 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. Wall Street Zen raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. JPMorgan Chase & Co. reduced their target price on Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group reduced their target price on Ares Capital from $22.50 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.63.

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.