Brown Miller Wealth Management LLC Has $1.22 Million Holdings in Ares Capital Co. (NASDAQ:ARCC)

Brown Miller Wealth Management LLC grew its position in Ares Capital Co. (NASDAQ:ARCC) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,011 shares of the investment management company’s stock after purchasing an additional 5,762 shares during the period. Brown Miller Wealth Management LLC’s holdings in Ares Capital were worth $1,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ARCC. Van ECK Associates Corp grew its stake in shares of Ares Capital by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 7,441,256 shares of the investment management company’s stock worth $144,881,000 after acquiring an additional 708,568 shares in the last quarter. Melia Wealth LLC bought a new position in shares of Ares Capital in the 4th quarter valued at about $13,992,000. Goldman Sachs Group Inc. boosted its position in Ares Capital by 160.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,117,111 shares of the investment management company’s stock valued at $23,403,000 after purchasing an additional 687,496 shares during the last quarter. Ares Management LLC increased its position in shares of Ares Capital by 35.7% during the 1st quarter. Ares Management LLC now owns 2,361,573 shares of the investment management company’s stock worth $49,475,000 after purchasing an additional 621,814 shares during the last quarter. Finally, Tudor Investment Corp Et Al acquired a new stake in shares of Ares Capital in the 3rd quarter valued at approximately $11,952,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ARCC shares. Wells Fargo & Company upped their target price on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Monday, January 29th. B. Riley cut Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research note on Monday, January 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Ares Capital has a consensus rating of “Hold” and a consensus price target of $20.80.

Ares Capital Stock Performance

NASDAQ ARCC traded up $0.34 on Thursday, reaching $20.82. The stock had a trading volume of 7,385,573 shares, compared to its average volume of 3,857,399. The firm has a fifty day moving average of $20.25 and a two-hundred day moving average of $19.83. The company has a market cap of $12.63 billion, a P/E ratio of 7.80 and a beta of 0.99. Ares Capital Co. has a 1-year low of $17.53 and a 1-year high of $20.86. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.24 and a quick ratio of 1.24.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $669.78 million. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, equities research analysts anticipate that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.22%. The ex-dividend date is Thursday, March 14th. Ares Capital’s dividend payout ratio (DPR) is presently 71.91%.

Ares Capital Company 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.