Texas Capital Bank Wealth Management Services Inc Increases Position in Ares Capital Co. (NASDAQ:ARCC)

Texas Capital Bank Wealth Management Services Inc lifted its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,734 shares of the investment management company's stock after purchasing an additional 18,852 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Ares Capital were worth $3,387,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ARCC. Cyndeo Wealth Partners LLC boosted its position in shares of Ares Capital by 2.3% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after purchasing an additional 430 shares during the period. World Investment Advisors boosted its position in shares of Ares Capital by 4.1% during the fourth quarter. World Investment Advisors now owns 12,521 shares of the investment management company's stock worth $274,000 after buying an additional 488 shares during the period. Fiduciary Group LLC raised its holdings in shares of Ares Capital by 2.3% in the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock valued at $478,000 after buying an additional 500 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock worth $1,230,000 after acquiring an additional 512 shares in the last quarter. Finally, Western Financial Corp CA boosted its holdings in Ares Capital by 2.2% during the 4th quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company's stock valued at $578,000 after acquiring an additional 564 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ARCC has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Raymond James lowered shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price target on Ares Capital from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price target on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.81.

Ares Capital Stock Down 0.1 %

ARCC stock traded down $0.01 during trading hours on Monday, reaching $19.90. 3,265,687 shares of the stock were exchanged, compared to its average volume of 4,007,469. The firm's 50-day moving average is $22.11 and its 200-day moving average is $21.98. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.21 and a quick ratio of 1.21. Ares Capital Co. has a 12 month low of $18.26 and a 12 month high of $23.84. The company has a market cap of $13.62 billion, a price-to-earnings ratio of 8.12 and a beta of 0.77.

Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. On average, equities research analysts expect that Ares Capital Co. will post 2.19 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.65%. The ex-dividend date of this dividend was Friday, March 14th. Ares Capital's dividend payout ratio (DPR) is 78.37%.

Ares Capital 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.