Rockefeller Capital Management L.P. Cuts Position in Ares Capital Co. (NASDAQ:ARCC)

Rockefeller Capital Management L.P. cut its holdings in shares of Ares Capital Co. (NASDAQ:ARCC - Free Report) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,616,359 shares of the investment management company's stock after selling 80,172 shares during the period. Rockefeller Capital Management L.P. owned about 0.25% of Ares Capital worth $33,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. boosted its holdings in Ares Capital by 62.7% during the second quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company's stock worth $26,000 after buying an additional 475 shares in the last quarter. Asset Dedication LLC acquired a new position in Ares Capital in the 2nd quarter worth about $26,000. Horizon Financial Services LLC acquired a new stake in Ares Capital in the third quarter valued at approximately $28,000. Hobbs Group Advisors LLC purchased a new stake in shares of Ares Capital in the second quarter valued at approximately $32,000. Finally, nVerses Capital LLC raised its stake in shares of Ares Capital by 88.9% during the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company's stock worth $35,000 after buying an additional 800 shares during the period. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Trading Up 0.6 %

NASDAQ ARCC traded up $0.14 on Friday, reaching $22.15. 2,812,726 shares of the company were exchanged, compared to its average volume of 3,703,123. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $22.21. The stock has a market capitalization of $14.31 billion, a P/E ratio of 8.52 and a beta of 1.01. The business's fifty day moving average price is $21.38 and its 200 day moving average price is $21.07. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.

Ares Capital (NASDAQ:ARCC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $770.45 million. During the same period in the previous year, the firm posted $0.59 EPS. The company's revenue was up 15.3% compared to the same quarter last year. Analysts forecast that Ares Capital Co. will post 2.36 earnings per share for the current year.

Ares Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.67%. The ex-dividend date is Friday, December 13th. Ares Capital's payout ratio is presently 73.85%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. UBS Group raised shares of Ares Capital to a "hold" rating in a research note on Friday, August 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $22.00 price objective on shares of Ares Capital in a report on Monday, August 5th. Finally, StockNews.com raised Ares Capital from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Ares Capital has an average rating of "Moderate Buy" and a consensus target price of $21.86.

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.