EverSource Wealth Advisors LLC Increases Position in Ares Capital Co. (NASDAQ:ARCC)

EverSource Wealth Advisors LLC lifted its position in shares of Ares Capital Co. (NASDAQ:ARCC) by 26.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,020 shares of the investment management company’s stock after purchasing an additional 2,275 shares during the period. EverSource Wealth Advisors LLC’s holdings in Ares Capital were worth $231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilbert & Cook Inc. boosted its holdings in Ares Capital by 6.6% in the fourth quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock valued at $27,737,000 after purchasing an additional 85,561 shares in the last quarter. Assetmark Inc. grew its position in shares of Ares Capital by 218.7% in the 4th quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock valued at $39,000 after buying an additional 1,345 shares during the last quarter. Commerce Bank raised its stake in Ares Capital by 2.2% during the 4th quarter. Commerce Bank now owns 32,898 shares of the investment management company’s stock worth $659,000 after acquiring an additional 721 shares in the last quarter. Hilltop Holdings Inc. lifted its position in Ares Capital by 24.4% in the fourth quarter. Hilltop Holdings Inc. now owns 27,354 shares of the investment management company’s stock valued at $548,000 after acquiring an additional 5,359 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Ares Capital by 4.9% in the fourth quarter. Parallel Advisors LLC now owns 51,806 shares of the investment management company’s stock valued at $1,038,000 after acquiring an additional 2,415 shares in the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Stock Down 1.1 %

Shares of Ares Capital stock opened at $20.49 on Thursday. Ares Capital Co. has a one year low of $18.55 and a one year high of $21.84. The company has a market cap of $12.92 billion, a P/E ratio of 7.02 and a beta of 1.01. 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 firm has a fifty day moving average of $20.71 and a two-hundred day moving average of $20.78.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $714.27 million. During the same quarter last year, the firm earned $0.58 earnings per share. On average, analysts forecast that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.37%. The ex-dividend date is Friday, September 13th. Ares Capital’s dividend payout ratio is presently 65.75%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JMP Securities upped their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, UBS Group upgraded shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.71.

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.