Texas Capital Bank Wealth Management Services Inc Raises Holdings in Ares Capital Corporation $ARCC

Texas Capital Bank Wealth Management Services Inc increased its position in Ares Capital Corporation (NASDAQ:ARCC) by 31.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,090 shares of the investment management company’s stock after buying an additional 57,834 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Ares Capital were worth $4,877,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ARCC. SWAN Capital LLC purchased a new position in shares of Ares Capital in the 3rd quarter worth $27,000. Quarry LP purchased a new position in shares of Ares Capital in the 3rd quarter worth $33,000. Ameriflex Group Inc. raised its position in shares of Ares Capital by 201.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,764 shares of the investment management company’s stock worth $36,000 after buying an additional 1,178 shares during the period. WFA of San Diego LLC purchased a new position in shares of Ares Capital in the 2nd quarter worth $36,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Ares Capital in the 4th quarter worth $37,000. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Stock Up 0.2%

Shares of NASDAQ ARCC opened at $18.86 on Thursday. Ares Capital Corporation has a 12-month low of $17.40 and a 12-month high of $23.42. The company has a market cap of $13.54 billion, a P/E ratio of 11.57 and a beta of 0.58. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average price of $18.53 and a 200 day moving average price of $19.45.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 28th. The investment management company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $763.00 million for the quarter, compared to analyst estimates of $778.00 million. Ares Capital had a net margin of 37.30% and a return on equity of 9.85%. The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Research analysts anticipate that Ares Capital Corporation will post 1.91 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.48 per share. The ex-dividend date is Monday, June 15th. This represents a $1.92 annualized dividend and a dividend yield of 10.2%. Ares Capital’s dividend payout ratio (DPR) is currently 117.79%.

Analyst Ratings Changes

ARCC has been the topic of several research reports. UBS Group cut their target price on Ares Capital from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Wells Fargo & Company cut their target price on Ares Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Keefe, Bruyette & Woods lowered their price target on Ares Capital from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Truist Financial lowered their price target on Ares Capital from $23.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Citizens Jmp lowered their price target on Ares Capital from $23.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ares Capital has a consensus rating of “Moderate Buy” and an average target price of $20.75.

Ares Capital Company Profile

Ares Capital Corporation (NASDAQ: ARCC) is a publicly traded business development company (BDC) that specializes in providing debt and equity financing solutions to U.S. middle-market companies. As a BDC, Ares Capital offers investors access to a diversified portfolio of tailored credit investments, including senior secured loans, unitranche financing, mezzanine debt and equity co-investments. The firm’s flexible capital structures are designed to support companies seeking growth capital, refinancing or strategic acquisitions.

Through its credit platform, Ares Capital focuses on originations, underwriting and portfolio management across a range of industries, with a particular emphasis on sectors such as healthcare, technology, industrials and business services.