ProShare Advisors LLC Has $1.03 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

ProShare Advisors LLC raised its position in Ares Capital Co. (NASDAQ:ARCC) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,405 shares of the investment management company’s stock after buying an additional 4,749 shares during the quarter. ProShare Advisors LLC’s holdings in Ares Capital were worth $1,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jamison Private Wealth Management Inc. increased its stake in Ares Capital by 62.7% in the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after acquiring an additional 475 shares during the last quarter. Asset Dedication LLC acquired a new position in shares of Ares Capital during the 2nd quarter worth $26,000. Valley National Advisers Inc. lifted its position 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. Hobbs Group Advisors LLC acquired a new stake in Ares Capital in the second quarter valued at about $32,000. Finally, nVerses Capital LLC grew its position in Ares Capital by 88.9% in the second quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 800 shares during the last quarter. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Ares Capital Trading Up 1.1 %

ARCC opened at $20.91 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital Co. has a fifty-two week low of $18.55 and a fifty-two week high of $21.84. The company’s 50 day moving average price is $20.71 and its two-hundred day moving average price is $20.78. The firm has a market capitalization of $12.85 billion, a price-to-earnings ratio of 7.16 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, research analysts predict that Ares Capital Co. will post 2.39 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.18%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

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.