Evergreen Capital Management LLC Reduces Stake in Ares Capital Co. (NASDAQ:ARCC)

Evergreen Capital Management LLC cut its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 376,587 shares of the investment management company's stock after selling 13,031 shares during the period. Evergreen Capital Management LLC owned about 0.06% of Ares Capital worth $8,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Ares Capital Stock Up 1.5 %

Shares of NASDAQ ARCC traded up $0.31 during midday trading on Friday, hitting $20.40. The company's stock had a trading volume of 4,235,919 shares, compared to its average volume of 4,050,665. Ares Capital Co. has a 1 year low of $18.26 and a 1 year high of $23.84. The business's fifty day simple moving average is $21.85 and its two-hundred day simple moving average is $21.94. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 8.33 and a beta of 0.77. 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 (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. On average, equities analysts predict that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.41%. Ares Capital's payout ratio is 78.37%.

Analyst Upgrades and Downgrades

ARCC has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their target price on Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Royal Bank of Canada upped their price objective on shares of Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Wells Fargo & Company decreased their target price on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on Ares Capital from $23.00 to $24.50 and gave the company an "overweight" rating in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Ares Capital has an average rating of "Moderate Buy" and an average target price of $22.61.

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.