Shares of Ares Capital Corporation (NASDAQ:ARCC) closed at $15.87 with 3.72 million shares getting traded. Post opening the session at $15.77, the shares hit an intraday low of $15.58 and an intraday high of $15.95 and the price vacillated in this range throughout the day. The company has a market cap of $4.85 billion and the numbers of outstanding shares have been calculated to be 313.95 million shares.
Ares Capital Corporation (ARCC) is a specialty finance company that is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in the United States middle-market companies. The Company invests in first lien senior secured loans (including unitranche loans, which are loans that combine both senior and mezzanine debt, generally in a first lien position), second lien senior secured loans and mezzanine debt, which in some cases includes an equity component. The Company focuses on self-originating most of its investments by pursuing an array of investment opportunities in middle-market companies, venture capital backed businesses and power generation projects across multiple channels. It also makes preferred and/or common equity investments. The Company is externally managed by its investment advisor, Ares Capital Management LLC.
Shares of Unum Group (NYSE:UNM) ended Monday session in green amid volatile trading. The shares closed up +0.22 points or 0.62% at $35.47 with 1.88 million shares getting traded. Post opening the session at $34.93, the shares hit an intraday low of $34.62 and an intraday high of $35.59 and the price vacillated in this range throughout the day. The company has a market cap of $8.36 billion and the numbers of outstanding shares have been calculated to be 234.64 million shares.
On August 2, 2016 Unum (UNM) has completed its purchase of H&J Capital, LLC, parent of Starmount Life Insurance Company and AlwaysCare Benefits (“Starmount”), a leading independent dental and vision benefits company that will support Unum’s long-term growth plans for workplace financial protection products.
“We are excited to welcome Starmount to the Unum family and to establish Baton Rouge as our center of excellence for the dental and vision market,” said Unum President and CEO Rick McKenney. “This is an excellent fit for both our Unum US and Colonial Life businesses and is an important component of our long-term strategic growth plan.”
Unum is a leading nationwide provider of financial protection benefits at work, including disability, life and supplemental health products. Starmount covers more than 940,000 lives nationally, manages in-force annualized premium in excess of $180 million and has access to significant national dental and vision networks.
“We see strong demand for dental and vision insurance in the market,” said Unum US President Mike Simonds. “Starmount’s solid products and networks, combined with Unum’s scale and capabilities, will help us create real value for our clients and expand access to financial protection benefits in the workplace.”