Kingswood Wealth Advisors LLC Raises Holdings in Ares Capital Corporation (NASDAQ:ARCC)

Kingswood Wealth Advisors LLC lifted its position in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 93.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 61,833 shares of the investment management company's stock after buying an additional 29,950 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Ares Capital were worth $1,377,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ARCC. Generali Asset Management SPA SGR bought a new position in Ares Capital during the 4th quarter worth about $84,426,000. Raymond James Financial Inc. purchased a new stake in shares of Ares Capital in the 4th quarter worth approximately $58,159,000. Two Sigma Investments LP boosted its stake in shares of Ares Capital by 81.0% during the fourth quarter. Two Sigma Investments LP now owns 2,678,525 shares of the investment management company's stock valued at $58,633,000 after purchasing an additional 1,198,580 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock valued at $93,439,000 after buying an additional 881,450 shares during the period. Finally, Bank of America Corp DE raised its stake in Ares Capital by 12.3% in the fourth quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company's stock worth $174,068,000 after buying an additional 871,370 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company's stock.

Ares Capital Stock Performance

ARCC opened at $21.51 on Friday. The firm's 50-day moving average price is $21.30 and its 200-day moving average price is $21.93. The company has a market cap of $14.93 billion, a P/E ratio of 10.49 and a beta of 0.68. 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 Corporation has a 52-week low of $18.26 and a 52-week high of $23.84.

Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) 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 previous year, the company posted $0.59 EPS. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Ares Capital Corporation will post 2.19 EPS for the current fiscal year.

Ares Capital Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group cut their price target on Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. B. Riley upgraded Ares Capital to a "hold" rating in a research note on Monday. JPMorgan Chase & Co. decreased their price target 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 lowered their price target on shares of Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

Ares Capital 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.

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