Wilmington Savings Fund Society FSB Purchases 48,848 Shares of Ares Capital Co. (NASDAQ:ARCC)

Wilmington Savings Fund Society FSB raised its position in Ares Capital Co. (NASDAQ:ARCC) by 382.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,609 shares of the investment management company’s stock after acquiring an additional 48,848 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Ares Capital were worth $1,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of Ares Capital in the 2nd quarter worth approximately $213,000. Envestnet Portfolio Solutions Inc. raised its holdings in Ares Capital by 11.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 13,318 shares of the investment management company’s stock worth $278,000 after purchasing an additional 1,328 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Ares Capital by 6.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 846,847 shares of the investment management company’s stock valued at $17,648,000 after purchasing an additional 53,340 shares in the last quarter. Raymond James & Associates grew its holdings in Ares Capital by 12.3% during the second quarter. Raymond James & Associates now owns 861,594 shares of the investment management company’s stock valued at $17,956,000 after purchasing an additional 94,665 shares during the period. Finally, Western Wealth Management LLC increased its position in Ares Capital by 5.1% in the second quarter. Western Wealth Management LLC now owns 37,072 shares of the investment management company’s stock worth $773,000 after buying an additional 1,800 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.4 %

Shares of ARCC opened at $21.69 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $14.01 billion, a price-to-earnings ratio of 8.34 and a beta of 1.01. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $22.43. The business’s 50 day simple moving average is $21.64 and its 200-day simple moving average is $21.13.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $770.45 million. During the same period in the previous year, the company earned $0.59 EPS. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 8.85%. Ares Capital’s dividend payout ratio is currently 73.85%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ARCC shares. StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. B. Riley upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised shares of Ares Capital from an “equal weight” rating to an “overweight” rating in a research note on Thursday. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ares Capital has an average rating of “Moderate Buy” and a consensus target price of $22.29.

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.