Private Trust Co. NA Lowers Holdings in Ares Capital Co. (NASDAQ:ARCC)

Private Trust Co. NA lowered its holdings in Ares Capital Co. (NASDAQ:ARCC) by 21.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,578 shares of the investment management company’s stock after selling 4,980 shares during the quarter. Private Trust Co. NA’s holdings in Ares Capital were worth $389,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Jamison Private Wealth Management Inc. raised its holdings in Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock valued at $26,000 after buying an additional 475 shares during the period. Asset Dedication LLC purchased a new stake in shares of Ares Capital in the 2nd quarter valued at approximately $26,000. Horizon Financial Services LLC acquired a new position in shares of Ares Capital in the 3rd quarter worth approximately $28,000. Hobbs Group Advisors LLC purchased a new position in shares of Ares Capital during the 2nd quarter worth approximately $32,000. Finally, nVerses Capital LLC increased its holdings in Ares Capital by 88.9% in the 2nd quarter. nVerses Capital LLC now owns 1,700 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 27.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ARCC shares. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. StockNews.com upgraded Ares Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. 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 research note on Thursday, October 31st. Finally, UBS Group raised shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Four 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.86.

Ares Capital Stock Up 0.0 %

ARCC stock opened at $22.01 on Thursday. The company’s 50 day moving average price is $21.29 and its 200 day moving average price is $21.05. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 8.47 and a beta of 1.01. Ares Capital Co. has a fifty-two week low of $19.32 and a fifty-two week high of $22.15. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. Ares Capital’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 8.72%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio (DPR) is 73.85%.

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.