Spire Wealth Management Buys 910 Shares of Ares Capital Co. (NASDAQ:ARCC)

Spire Wealth Management grew its position in Ares Capital Co. (NASDAQ:ARCC) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 61,260 shares of the investment management company’s stock after acquiring an additional 910 shares during the period. Spire Wealth Management’s holdings in Ares Capital were worth $1,247,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in ARCC. First Horizon Advisors Inc. grew its position in shares of Ares Capital by 93.9% in the 4th quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock valued at $38,000 after buying an additional 931 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Ares Capital by 411.0% in the 3rd quarter. Cape Investment Advisory Inc. now owns 1,952 shares of the investment management company’s stock worth $38,000 after purchasing an additional 1,570 shares during the period. Activest Wealth Management boosted its stake in shares of Ares Capital by 137.2% in the 4th quarter. Activest Wealth Management now owns 2,142 shares of the investment management company’s stock valued at $43,000 after purchasing an additional 1,239 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its stake in Ares Capital by 59.3% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,351 shares of the investment management company’s stock worth $47,000 after buying an additional 875 shares during the last quarter. Finally, CVA Family Office LLC acquired a new position in Ares Capital in the fourth quarter valued at $51,000. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ARCC has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Ares Capital in a research report on Tuesday, March 26th. Wells Fargo & Company increased their price target on Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Oppenheimer upped their price target on Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Truist Financial raised their target price on Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Ares Capital presently has an average rating of “Moderate Buy” and a consensus target price of $21.43.

Ares Capital Trading Down 0.2 %

Shares of ARCC stock opened at $20.75 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The firm has a market cap of $12.61 billion, a P/E ratio of 7.12 and a beta of 0.99. The company has a 50 day moving average of $20.45 and a 200-day moving average of $20.10. Ares Capital Co. has a 12-month low of $18.00 and a 12-month high of $21.04.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The firm had revenue of $701.00 million for the quarter, compared to analysts’ expectations of $703.85 million. During the same period in the prior year, the company earned $0.56 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. Sell-side analysts anticipate that Ares Capital Co. will post 2.34 earnings per share for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 9.25%. The ex-dividend date is Thursday, June 13th. Ares Capital’s dividend payout ratio (DPR) is currently 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.