Brown Miller Wealth Management LLC Acquires 15,043 Shares of Ares Capital Corporation (NASDAQ:ARCC)

Brown Miller Wealth Management LLC boosted its position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 23.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,367 shares of the investment management company's stock after purchasing an additional 15,043 shares during the period. Brown Miller Wealth Management LLC's holdings in Ares Capital were worth $1,759,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors raised its stake in shares of Ares Capital by 4.1% in the fourth quarter. World Investment Advisors now owns 12,521 shares of the investment management company's stock worth $274,000 after acquiring an additional 488 shares during the last quarter. Fiduciary Group LLC raised its holdings in Ares Capital by 2.3% during the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock worth $478,000 after purchasing an additional 500 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock valued at $1,230,000 after purchasing an additional 512 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of Ares Capital by 20.3% in the 4th quarter. First Horizon Advisors Inc. now owns 3,564 shares of the investment management company's stock valued at $78,000 after purchasing an additional 602 shares during the last quarter. Finally, Magnus Financial Group LLC grew its position in shares of Ares Capital by 2.2% during the 1st quarter. Magnus Financial Group LLC now owns 31,319 shares of the investment management company's stock worth $694,000 after buying an additional 664 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of Ares Capital stock traded up $0.19 during trading on Thursday, hitting $21.51. 3,435,180 shares of the stock were exchanged, compared to its average volume of 4,166,925. Ares Capital Corporation has a 1-year low of $18.26 and a 1-year high of $23.84. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 10.49 and a beta of 0.68. The company has a fifty day moving average price of $21.27 and a 200-day moving average price of $21.94.

Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.04). Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The business had revenue of $599.00 million during the quarter, compared to the consensus estimate of $769.32 million. During the same quarter last year, the company posted $0.59 EPS. The firm's revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital's dividend payout ratio is currently 93.66%.

Analysts Set New Price Targets

A number of analysts have commented on ARCC shares. Royal Bank Of Canada lowered their target price on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, May 6th. Keefe, Bruyette & Woods dropped their price objective on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. UBS Group reduced their target price on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price target on Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

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.