19,317 Shares in Ares Capital Co. (NASDAQ:ARCC) Acquired by BankPlus Wealth Management LLC

BankPlus Wealth Management LLC acquired a new stake in shares of Ares Capital Co. (NASDAQ:ARCC) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 19,317 shares of the investment management company’s stock, valued at approximately $423,000.

Several other hedge funds have also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC boosted its holdings in shares of Ares Capital by 2.3% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company’s stock worth $419,000 after acquiring an additional 430 shares during the period. JBR Co Financial Management Inc boosted its stake in Ares Capital by 1.5% in the 3rd quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock worth $692,000 after purchasing an additional 500 shares during the period. Onyx Bridge Wealth Group LLC grew its holdings in Ares Capital by 1.2% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after buying an additional 531 shares in the last quarter. Centaurus Financial Inc. increased its position in shares of Ares Capital by 3.9% during the second quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock valued at $301,000 after buying an additional 542 shares during the period. Finally, Koshinski Asset Management Inc. lifted its holdings in shares of Ares Capital by 1.6% in the fourth quarter. Koshinski Asset Management Inc. now owns 37,086 shares of the investment management company’s stock worth $812,000 after buying an additional 567 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Ares Capital Stock Down 0.6 %

Shares of ARCC opened at $23.30 on Tuesday. The firm has a market cap of $15.05 billion, a P/E ratio of 8.96 and a beta of 1.00. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.53. The stock has a 50 day simple moving average of $22.15 and a two-hundred day simple moving average of $21.39. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.29 and a quick ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $770.45 million. During the same period in the prior year, the business posted $0.59 EPS. Ares Capital’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.24%. Ares Capital’s dividend payout ratio is currently 73.85%.

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.