Ares Capital Co. (NASDAQ:ARCC) Stock Holdings Trimmed by Evergreen Capital Management LLC

Evergreen Capital Management LLC lowered its stake in Ares Capital Co. (NASDAQ:ARCC) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 376,587 shares of the investment management company’s stock after selling 13,031 shares during the quarter. Evergreen Capital Management LLC owned about 0.06% of Ares Capital worth $8,243,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cyndeo Wealth Partners LLC raised its holdings in Ares Capital by 2.3% during the fourth 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 in the last quarter. World Investment Advisors lifted its holdings in shares of Ares Capital by 4.1% in the fourth quarter. World Investment Advisors now owns 12,521 shares of the investment management company’s stock valued at $274,000 after buying an additional 488 shares during the period. Fiduciary Group LLC grew its holdings in Ares Capital by 2.3% during the fourth quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company’s stock worth $478,000 after acquiring an additional 500 shares during the period. Sheaff Brock Investment Advisors LLC raised its position in Ares Capital by 0.9% in the fourth 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 raised its position in Ares Capital by 2.2% in the fourth quarter. Western Financial Corp CA now owns 26,387 shares of the investment management company’s stock worth $578,000 after acquiring an additional 564 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ares Capital Stock Performance

Shares of ARCC opened at $20.17 on Wednesday. The company’s 50 day moving average price is $22.00 and its 200 day moving average price is $21.96. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. Ares Capital Co. has a 52 week low of $18.26 and a 52 week high of $23.84. The company has a market capitalization of $13.81 billion, a PE ratio of 8.23 and a beta of 0.77.

Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Research analysts expect that Ares Capital Co. will post 2.19 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date was Friday, March 14th. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

About Ares Capital

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.