US Bancorp DE Trims Stake in Ares Capital Corporation $ARCC

by · The Cerbat Gem

US Bancorp DE lowered its stake in shares of Ares Capital Corporation (NASDAQ:ARCC – Free Report) by 2.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,757 shares of the investment management company’s stock after selling 1,109 shares during the quarter. US Bancorp DE’s holdings in Ares Capital were worth $961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ARCC. Elequin Capital LP purchased a new position in shares of Ares Capital during the first quarter valued at about $30,000. Continuum Advisory LLC increased its position in shares of Ares Capital by 320.7% during the first quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after buying an additional 1,241 shares during the period. Wolff Wiese Magana LLC purchased a new position in shares of Ares Capital during the second quarter valued at about $40,000. Investment Management Corp VA ADV grew its holdings in Ares Capital by 193.9% in the first 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. Finally, Archer Investment Corp grew its holdings in Ares Capital by 281.3% in the first quarter. Archer Investment Corp now owns 2,440 shares of the investment management company’s stock worth $54,000 after purchasing an additional 1,800 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Down 0.1%

Shares of Ares Capital stock opened at $19.51 on Friday. The company has a market cap of $13.76 billion, a price-to-earnings ratio of 9.52 and a beta of 0.68. The company’s 50 day moving average is $21.33 and its 200 day moving average is $21.54. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. 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 (NASDAQ:ARCC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $614.00 million for the quarter, compared to the consensus estimate of $748.76 million. Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. During the same quarter last year, the company earned $0.61 EPS. Research analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.8%. The ex-dividend date was Monday, September 15th. Ares Capital’s dividend payout ratio is 93.66%.

Analysts Set New Price Targets

ARCC has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, October 1st. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.50 to $23.50 in a report on Wednesday, July 30th. Keefe, Bruyette & Woods upped their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Capital One Financial set a $22.50 price objective on shares of Ares Capital in a report on Friday, October 10th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.63.

Get Our Latest Research Report on Ares Capital

Ares Capital Company 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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