Corient Private Wealth LP Purchases Shares of 849,762 Ares Capital Corporation $ARCC

Key Points

• Corient Private Wealth LP purchased 849,762 shares of Ares Capital, valued at approximately $15.7 million, giving it a 0.12% stake. Institutional investors collectively own 27.38% of ARCC.
• Analysts maintain a generally positive outlook, with eight Buy ratings and three Holds. Ares Capital has a consensus “Moderate Buy” rating and an average price target of $20.40, despite several recent target reductions.
• Ares Capital reported quarterly EPS of $0.47, matching estimates, and declared a quarterly dividend of $0.48 per share. The annualized dividend of $1.92 represents a 9.6% yield.

Corient Private Wealth LP purchased a new position in Ares Capital Corporation (NASDAQ:ARCC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 849,762 shares of the investment management company's stock, valued at approximately $15,746,000. Corient Private Wealth LP owned approximately 0.12% of Ares Capital as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Palladiem LLC bought a new stake in shares of Ares Capital in the fourth quarter worth about $26,000. SWAN Capital LLC bought a new position in Ares Capital during the third quarter valued at approximately $27,000. Sankala Group LLC purchased a new position in Ares Capital during the 4th quarter valued at approximately $28,000. Core Wealth Advisors LLC purchased a new position in Ares Capital during the 4th quarter valued at approximately $33,000. Finally, Quarry LP bought a new stake in Ares Capital in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 27.38% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, July 30th. Truist Financial decreased their price target on shares of Ares Capital from $22.00 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. JPMorgan Chase & Co. lowered their price objective on shares of Ares Capital from $19.00 to $18.50 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Wells Fargo & Company reiterated an "equal weight" rating and set a $19.00 price objective (down from $20.00) on shares of Ares Capital in a research report on Friday, June 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Ares Capital in a report on Tuesday, June 9th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Ares Capital currently has a consensus rating of "Moderate Buy" and an average target price of $20.40.

Ares Capital Price Performance

NASDAQ:ARCC opened at $19.95 on Friday. The firm has a market capitalization of $14.32 billion, a price-to-earnings ratio of 14.78 and a beta of 0.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.28 and a quick ratio of 1.28. The business has a 50 day simple moving average of $19.10 and a 200-day simple moving average of $18.84. Ares Capital Corporation has a 1 year low of $17.40 and a 1 year high of $22.51.

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

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 yield of 9.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Ares Capital's payout ratio is presently 142.22%.

About Ares Capital

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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