Activest Wealth Management Has $310,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Activest Wealth Management lifted its position in shares of Ares Capital Co. (NASDAQ:ARCCFree Report) by 594.8% during the 1st quarter, Holdings Channel reports. The firm owned 14,882 shares of the investment management company’s stock after purchasing an additional 12,740 shares during the quarter. Activest Wealth Management’s holdings in Ares Capital were worth $310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Essex Financial Services Inc. grew its stake in Ares Capital by 12.2% in the 1st quarter. Essex Financial Services Inc. now owns 70,951 shares of the investment management company’s stock valued at $1,477,000 after buying an additional 7,721 shares during the last quarter. Bell Bank grew its position in shares of Ares Capital by 1.7% during the 1st quarter. Bell Bank now owns 489,632 shares of the investment management company’s stock worth $10,194,000 after purchasing an additional 8,394 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Ares Capital by 4.7% during the 1st quarter. Global Retirement Partners LLC now owns 16,855 shares of the investment management company’s stock worth $351,000 after purchasing an additional 756 shares in the last quarter. Sage Mountain Advisors LLC acquired a new position in shares of Ares Capital during the 1st quarter worth approximately $213,000. Finally, Fifth Third Bancorp grew its position in shares of Ares Capital by 95.3% during the 1st quarter. Fifth Third Bancorp now owns 9,215 shares of the investment management company’s stock worth $192,000 after purchasing an additional 4,496 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARCC has been the subject of several research reports. Truist Financial increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer raised their price target on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Ares Capital in a research note on Tuesday, March 26th. Wells Fargo & Company raised their price target on shares of Ares Capital from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.43.

Read Our Latest Report on ARCC

Ares Capital Stock Up 0.6 %

Shares of ARCC stock traded up $0.13 on Tuesday, hitting $21.46. The stock had a trading volume of 3,425,439 shares, compared to its average volume of 3,574,774. Ares Capital Co. has a 12-month low of $18.00 and a 12-month high of $21.53. The business has a 50 day moving average of $20.60 and a 200 day moving average of $20.25. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 7.35 and a beta of 0.99.

Ares Capital (NASDAQ:ARCCGet Free Report) last issued its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The business had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. Ares Capital’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. As a group, analysts expect that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.95%. Ares Capital’s dividend payout ratio (DPR) is currently 65.75%.

Ares Capital Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ares Capital (NASDAQ:ARCC)

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