Fullcircle Wealth LLC Acquires New Position in Ares Capital Corporation (NASDAQ:ARCC)

Fullcircle Wealth LLC acquired a new stake in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,071 shares of the investment management company's stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of Ares Capital by 4.7% in the fourth quarter. US Bancorp DE now owns 43,056 shares of the investment management company's stock worth $942,000 after buying an additional 1,945 shares in the last quarter. M&T Bank Corp purchased a new position in shares of Ares Capital in the fourth quarter worth about $222,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ares Capital by 18.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,840 shares of the investment management company's stock worth $1,058,000 after buying an additional 7,381 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Ares Capital by 0.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 241,119 shares of the investment management company's stock worth $5,343,000 after buying an additional 1,776 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Ares Capital by 23,571.4% in the first quarter. Bessemer Group Inc. now owns 3,314 shares of the investment management company's stock worth $73,000 after buying an additional 3,300 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Trading Down 0.4%

Shares of ARCC traded down $0.08 during trading on Monday, reaching $22.33. 3,103,248 shares of the company traded hands, compared to its average volume of 4,208,307. Ares Capital Corporation has a twelve month low of $18.26 and a twelve month high of $23.84. The stock has a market cap of $15.50 billion, a PE ratio of 10.89 and a beta of 0.67. The stock has a 50-day simple moving average of $21.64 and a 200-day simple moving average of $21.94. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.02.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced 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 company had revenue of $599.00 million for the quarter, compared to analyst estimates of $769.32 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. Ares Capital's revenue was up 4.4% on a year-over-year basis. On average, analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.60%. The ex-dividend date of this dividend was Friday, June 13th. Ares Capital's dividend payout ratio is presently 93.66%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Royal Bank Of Canada cut their price objective on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. UBS Group cut their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and an average 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.