Bank of New York Mellon Corp Invests $4.41 Million in Ares Capital Corporation $ARCC

Bank of New York Mellon Corp acquired a new stake in Ares Capital Corporation (NASDAQ:ARCC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 237,789 shares of the investment management company's stock, valued at approximately $4,406,000.

Several other large investors have also bought and sold shares of the company. Roman Butler Fullerton & Co. raised its position in shares of Ares Capital by 1.9% during the first quarter. Roman Butler Fullerton & Co. now owns 27,713 shares of the investment management company's stock worth $504,000 after purchasing an additional 528 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Ares Capital by 5.3% in the 4th quarter. First Citizens Bank & Trust Co. now owns 10,530 shares of the investment management company's stock valued at $213,000 after purchasing an additional 532 shares during the period. CWS Financial Advisors LLC boosted its position in shares of Ares Capital by 4.0% in the 1st quarter. CWS Financial Advisors LLC now owns 14,956 shares of the investment management company's stock valued at $270,000 after purchasing an additional 582 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in Ares Capital by 5.9% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 10,616 shares of the investment management company's stock worth $202,000 after purchasing an additional 592 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its stake in Ares Capital by 1.8% in the 4th quarter. Founders Financial Alliance LLC now owns 34,362 shares of the investment management company's stock worth $695,000 after purchasing an additional 620 shares in the last quarter. Institutional investors own 27.38% of the company's stock.

Ares Capital Stock Performance

ARCC stock opened at $20.04 on Friday. The firm has a 50 day moving average of $19.30 and a two-hundred day moving average of $18.86. Ares Capital Corporation has a 12 month low of $17.40 and a 12 month high of $22.51. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 14.84 and a beta of 0.57. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 1.14.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Ares Capital had a net margin of 30.91% and a return on equity of 9.80%. The business had revenue of $768.00 million during the quarter, compared to analyst estimates of $770.19 million. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, equities analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.6%. The ex-dividend date is Tuesday, September 15th. Ares Capital's dividend payout ratio is 142.22%.

Analyst Ratings Changes

A number of analysts have commented on ARCC shares. UBS Group upped their price objective on shares of Ares Capital from $19.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday. Truist Financial dropped their target price on shares of Ares Capital from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Wall Street Zen lowered Ares Capital from a "hold" rating to a "sell" rating in a report on Sunday, August 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Ares Capital in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. decreased their target price on Ares Capital from $19.00 to $18.50 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Ares Capital currently has an average rating of "Moderate Buy" and an average price target of $20.60.

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.

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