Texas Capital Bank Wealth Management Services Inc Has $2.83 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Texas Capital Bank Wealth Management Services Inc lifted its position in Ares Capital Co. (NASDAQ:ARCC) by 4.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 135,695 shares of the investment management company’s stock after buying an additional 5,423 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Ares Capital were worth $2,828,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Scientech Research LLC lifted its position in Ares Capital by 128.2% during the 2nd quarter. Scientech Research LLC now owns 28,381 shares of the investment management company’s stock worth $591,000 after buying an additional 15,942 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ares Capital by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 177,553 shares of the investment management company’s stock valued at $3,700,000 after buying an additional 4,030 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Ares Capital in the second quarter valued at approximately $2,083,000. Sfmg LLC boosted its stake in shares of Ares Capital by 1.1% during the 2nd quarter. Sfmg LLC now owns 421,447 shares of the investment management company’s stock worth $8,783,000 after acquiring an additional 4,744 shares during the period. Finally, Progeny 3 Inc. increased its holdings in shares of Ares Capital by 4.7% during the 2nd quarter. Progeny 3 Inc. now owns 1,983,594 shares of the investment management company’s stock worth $41,338,000 after acquiring an additional 88,353 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

NASDAQ ARCC opened at $20.91 on Friday. The firm has a 50-day moving average price of $20.71 and a two-hundred day moving average price of $20.78. Ares Capital Co. has a 12-month low of $18.55 and a 12-month high of $21.84. The company has a market capitalization of $12.85 billion, a P/E ratio of 7.16 and a beta of 1.01. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.05.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. During the same quarter last year, the company earned $0.58 EPS. Analysts anticipate that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Dividend Announcement

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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 9.18%. The ex-dividend date is Friday, September 13th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARCC. UBS Group raised Ares Capital to a “hold” rating in a report on Friday, August 23rd. JMP Securities raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Finally, Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research report on Tuesday, July 30th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.71.

Ares Capital Company 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.