Stiles Financial Services Inc Grows Position in Ares Capital Corporation (NASDAQ:ARCC)

Stiles Financial Services Inc raised its holdings in shares of Ares Capital Corporation (NASDAQ:ARCC - Free Report) by 37.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,106 shares of the investment management company's stock after buying an additional 18,149 shares during the quarter. Stiles Financial Services Inc's holdings in Ares Capital were worth $1,465,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp lifted its position in Ares Capital by 6.6% during the fourth quarter. Truist Financial Corp now owns 144,139 shares of the investment management company's stock worth $3,155,000 after buying an additional 8,892 shares in the last quarter. Sigma Planning Corp increased its stake in shares of Ares Capital by 3.5% in the 4th quarter. Sigma Planning Corp now owns 147,991 shares of the investment management company's stock worth $3,240,000 after acquiring an additional 5,033 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Ares Capital by 20.3% during the 4th quarter. First Horizon Advisors Inc. now owns 3,564 shares of the investment management company's stock worth $78,000 after acquiring an additional 602 shares during the period. JBR Co Financial Management Inc boosted its position in shares of Ares Capital by 18.0% during the 4th quarter. JBR Co Financial Management Inc now owns 38,997 shares of the investment management company's stock valued at $854,000 after acquiring an additional 5,950 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. purchased a new stake in shares of Ares Capital in the fourth quarter valued at about $6,635,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Trading Up 0.2%

Shares of ARCC stock traded up $0.05 on Tuesday, hitting $21.52. The stock had a trading volume of 4,279,863 shares, compared to its average volume of 4,176,198. The company's 50 day moving average price is $21.39 and its 200-day moving average price is $21.92. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84. The firm has a market capitalization of $14.94 billion, a P/E ratio of 10.50 and a beta of 0.68. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40.

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 return on equity of 11.05% and a net margin of 43.50%. The business had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. During the same quarter last year, the company earned $0.59 earnings per share. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. Analysts anticipate that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm 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 $0.48 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.92 annualized dividend and a yield of 8.92%. Ares Capital's dividend payout ratio is presently 93.66%.

Analysts Set New Price Targets

Several research firms have weighed in on ARCC. JPMorgan Chase & Co. decreased their target price on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Royal Bank Of Canada decreased their price objective on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Keefe, Bruyette & Woods cut their target price on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company reduced their target price on Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Finally, B. Riley upgraded Ares Capital to a "hold" rating in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Ares Capital presently has a consensus rating of "Moderate Buy" and an average price target 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.