Sterling Group Wealth Management LLC Lowers Stock Holdings in Ares Capital Corporation $ARCC

Sterling Group Wealth Management LLC lowered its holdings in Ares Capital Corporation (NASDAQ:ARCC) by 72.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,411 shares of the investment management company’s stock after selling 27,069 shares during the period. Sterling Group Wealth Management LLC’s holdings in Ares Capital were worth $188,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Canal Capital Management LLC increased its position in shares of Ares Capital by 1.6% during the fourth quarter. Canal Capital Management LLC now owns 32,955 shares of the investment management company’s stock worth $667,000 after purchasing an additional 520 shares in the last quarter. Roman Butler Fullerton & Co. increased its position in shares of Ares Capital by 1.9% in the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company’s stock valued at $504,000 after buying an additional 528 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Ares Capital by 5.3% during the 4th quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company’s stock worth $213,000 after purchasing an additional 532 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in Ares Capital by 1.6% in the 4th quarter. Perigon Wealth Management LLC now owns 34,700 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 547 shares in the last quarter. Finally, Diversify Advisory Services LLC lifted its stake in shares of Ares Capital by 2.0% during the 4th quarter. Diversify Advisory Services LLC now owns 28,186 shares of the investment management company’s stock worth $589,000 after purchasing an additional 563 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Trading Down 0.7%

Ares Capital stock opened at $18.64 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 $13.38 billion, a price-to-earnings ratio of 11.44 and a beta of 0.56. The company’s fifty day moving average price is $18.66 and its two-hundred day moving average price is $19.04. Ares Capital Corporation has a one year low of $17.40 and a one year high of $23.42.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm had revenue of $763.00 million during the quarter, compared to analyst estimates of $778.00 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts forecast that Ares Capital Corporation will post 1.9 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

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

Analysts Set New Price Targets

ARCC has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Ares Capital in a report on Tuesday, June 9th. Oppenheimer decreased their target price on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Wednesday, April 29th. Wells Fargo & Company restated an “equal weight” rating and set a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research note on Friday, June 12th. Royal Bank Of Canada lowered their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, April 29th. Finally, B. Riley Financial dropped their price objective on Ares Capital from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.60.

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.