Whipplewood Advisors LLC Has $1.49 Million Position in Ares Capital Corporation $ARCC

Whipplewood Advisors LLC increased its position in shares of Ares Capital Corporation (NASDAQ:ARCC) by 76.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,108 shares of the investment management company’s stock after buying an additional 31,640 shares during the quarter. Ares Capital accounts for about 1.0% of Whipplewood Advisors LLC’s portfolio, making the stock its 29th biggest holding. Whipplewood Advisors LLC’s holdings in Ares Capital were worth $1,492,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ARCC. Bank of America Corp DE raised its holdings in shares of Ares Capital by 8.9% in the second quarter. Bank of America Corp DE now owns 8,678,129 shares of the investment management company’s stock valued at $190,572,000 after purchasing an additional 705,882 shares during the last quarter. JPMorgan Chase & Co. grew its position in Ares Capital by 18.6% in the second quarter. JPMorgan Chase & Co. now owns 6,404,876 shares of the investment management company’s stock valued at $140,651,000 after purchasing an additional 1,006,460 shares in the last quarter. Legal & General Group Plc increased its stake in Ares Capital by 5.4% in the 2nd quarter. Legal & General Group Plc now owns 4,955,567 shares of the investment management company’s stock valued at $108,799,000 after buying an additional 252,947 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Ares Capital by 6.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,794,378 shares of the investment management company’s stock valued at $83,353,000 after buying an additional 225,984 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Ares Capital by 825.4% during the 2nd quarter. Invesco Ltd. now owns 3,551,711 shares of the investment management company’s stock worth $77,996,000 after buying an additional 3,167,906 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Ares Capital Stock Performance

ARCC opened at $19.47 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Ares Capital Corporation has a 12-month low of $18.26 and a 12-month high of $23.63. The business has a 50 day moving average of $20.30 and a 200-day moving average of $20.79. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 10.47 and a beta of 0.59.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, February 4th. The investment management company reported $0.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.50. Ares Capital had a return on equity of 9.89% and a net margin of 42.56%.The business had revenue of $793.00 million for the quarter, compared to analyst estimates of $795.20 million. During the same period in the previous year, the firm earned $0.55 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Ares Capital Corporation will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.9%. Ares Capital’s dividend payout ratio is presently 103.23%.

Insider Transactions at Ares Capital

In related news, CEO Michael Kort Schnabel bought 12,500 shares of Ares Capital stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average price of $19.13 per share, with a total value of $239,125.00. Following the acquisition, the chief executive officer owned 40,500 shares of the company’s stock, valued at approximately $774,765. This represents a 44.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott C. Lem purchased 5,186 shares of the stock in a transaction on Friday, February 6th. The stock was bought at an average cost of $19.29 per share, for a total transaction of $100,037.94. Following the completion of the acquisition, the chief financial officer owned 39,463 shares in the company, valued at approximately $761,241.27. This trade represents a 15.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ARCC shares. Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. B. Riley Financial reissued a “buy” rating on shares of Ares Capital in a research report on Monday. Royal Bank Of Canada lowered their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday. Citigroup reiterated a “market outperform” rating on shares of Ares Capital in a research note on Thursday, October 30th. Finally, Wells Fargo & Company decreased their target price on shares of Ares Capital from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

About Ares Capital

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.