Ares Capital Co. (NASDAQ:ARCC) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 5.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,491,495 shares of the investment management company’s stock after purchasing an additional 71,393 shares during the period. Envestnet Asset Management Inc.’s holdings in Ares Capital were worth $31,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its holdings in shares of Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after buying an additional 475 shares during the last quarter. Asset Dedication LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth $26,000. Valley National Advisers Inc. increased its holdings in shares of Ares Capital by 323.3% during the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after buying an additional 1,096 shares during the last quarter. Pingora Partners LLC acquired a new stake in shares of Ares Capital during the 4th quarter worth $30,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Ares Capital during the 2nd quarter worth $32,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ARCC shares. JMP Securities raised their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point raised Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ares Capital currently has a consensus rating of “Moderate Buy” and an average target price of $21.71.

Ares Capital Stock Down 0.7 %

Shares of NASDAQ:ARCC opened at $20.61 on Friday. The firm has a market cap of $12.67 billion, a PE ratio of 7.05 and a beta of 1.01. The company has a fifty day simple moving average of $20.74 and a 200 day simple moving average of $20.77. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. Ares Capital Co. has a 12-month low of $18.55 and a 12-month high of $21.84.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. During the same period in the prior year, the company posted $0.58 earnings per share. On average, equities research analysts anticipate that Ares Capital Co. will post 2.38 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.92 annualized dividend and a yield of 9.32%. Ares Capital’s dividend payout ratio is presently 65.75%.

About Ares Capital

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.