Millennium Capital Advisors LLC Purchases Shares of 32,455 Ares Capital Corporation $ARCC

Millennium Capital Advisors LLC purchased a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 32,455 shares of the investment management company’s stock, valued at approximately $657,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. UBS Group AG grew its position in Ares Capital by 41.8% during the fourth quarter. UBS Group AG now owns 11,201,905 shares of the investment management company’s stock valued at $226,615,000 after acquiring an additional 3,301,890 shares during the last quarter. Bank of America Corp DE grew its position in Ares Capital by 8.9% during the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after acquiring an additional 705,882 shares during the last quarter. Ameriprise Financial Inc. grew its position in Ares Capital by 6.3% during the second quarter. Ameriprise Financial Inc. now owns 3,794,378 shares of the investment management company’s stock valued at $83,353,000 after acquiring an additional 225,984 shares during the last quarter. Advisors Capital Management LLC grew its position in Ares Capital by 13.5% during the fourth quarter. Advisors Capital Management LLC now owns 3,566,790 shares of the investment management company’s stock valued at $72,156,000 after acquiring an additional 423,795 shares during the last quarter. Finally, Raymond James Financial Inc. grew its position in Ares Capital by 7.5% during the third quarter. Raymond James Financial Inc. now owns 3,226,668 shares of the investment management company’s stock valued at $65,856,000 after acquiring an additional 225,028 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Down 0.2%

Shares of Ares Capital stock opened at $18.90 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital Corporation has a 52-week low of $17.40 and a 52-week high of $23.42. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 11.60 and a beta of 0.58. The company’s 50 day moving average price is $18.48 and its 200-day moving average price is $19.55.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Ares Capital had a return on equity of 9.85% and a net margin of 37.30%.The firm had revenue of $763.00 million during the quarter, compared to the consensus estimate of $778.00 million. During the same quarter in the prior year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts forecast that Ares Capital Corporation will post 1.91 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.48 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.2%. Ares Capital’s dividend payout ratio (DPR) is currently 117.79%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARCC. Keefe, Bruyette & Woods reduced their price target on shares of Ares Capital from $22.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Truist Financial reduced their price target on shares of Ares Capital from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price target on shares of Ares Capital from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, March 13th. Wall Street Zen cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Citizens Jmp cut their target price on shares of Ares Capital from $23.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.75.

Ares Capital Company 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.