First Affirmative Financial Network Purchases New Stake in Ares Capital Co. (NASDAQ:ARCC)

First Affirmative Financial Network purchased a new position in shares of Ares Capital Co. (NASDAQ:ARCC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,071 shares of the investment management company’s stock, valued at approximately $295,000.

Other large investors also recently bought and sold shares of the company. Confluence Investment Management LLC acquired a new stake in shares of Ares Capital during the 1st quarter worth approximately $86,227,000. SteelPeak Wealth LLC lifted its stake in Ares Capital by 151.4% in the second quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock valued at $952,000 after buying an additional 27,523 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Ares Capital by 206.7% during the first quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock valued at $1,156,000 after acquiring an additional 37,412 shares during the period. Sigma Investment Counselors Inc. grew its position in shares of Ares Capital by 13.4% during the second quarter. Sigma Investment Counselors Inc. now owns 651,938 shares of the investment management company’s stock worth $13,586,000 after acquiring an additional 76,960 shares during the last quarter. Finally, Brendel Financial Advisors LLC acquired a new stake in shares of Ares Capital in the 3rd quarter worth about $2,101,000. Institutional investors own 27.38% of the company’s stock.

Analysts Set New Price Targets

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

Ares Capital Stock Up 0.9 %

ARCC opened at $21.32 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. The company has a market capitalization of $13.44 billion, a PE ratio of 7.48 and a beta of 1.01. The stock’s fifty day moving average is $20.74 and its 200-day moving average is $20.84. Ares Capital Co. has a one year low of $18.55 and a one year high of $21.84.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $714.27 million. During the same period in the previous year, the business earned $0.58 earnings per share. On average, equities analysts predict that Ares Capital Co. will post 2.39 EPS for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date of this dividend was Friday, September 13th. Ares Capital’s payout ratio is 67.37%.

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.