Ares Capital Co. (NASDAQ:ARCC) Position Lessened by Glenview Trust co

Glenview Trust co reduced its holdings in Ares Capital Co. (NASDAQ:ARCC) by 13.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,500 shares of the investment management company’s stock after selling 5,137 shares during the quarter. Glenview Trust co’s holdings in Ares Capital were worth $711,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Financial Services LLC acquired a new stake in Ares Capital in the 3rd quarter valued at approximately $28,000. Promus Capital LLC acquired a new stake in Ares Capital in the 4th quarter valued at approximately $48,000. SRS Capital Advisors Inc. acquired a new stake in Ares Capital in the 4th quarter valued at approximately $60,000. Montag A & Associates Inc. increased its position in Ares Capital by 92.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock valued at $63,000 after acquiring an additional 1,389 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its position in Ares Capital by 200.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,000 shares of the investment management company’s stock valued at $66,000 after acquiring an additional 2,000 shares during the period. 27.38% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Stock Performance

Shares of ARCC stock opened at $21.65 on Tuesday. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $23.84. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of 8.84 and a beta of 1.00. The stock’s fifty day simple moving average is $22.87 and its 200-day simple moving average is $21.91.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results 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 net margin of 50.90% and a return on equity of 11.54%. On average, sell-side analysts predict that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, March 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.87%. Ares Capital’s dividend payout ratio is 78.37%.

Analysts Set New Price Targets

Several research firms recently commented on ARCC. Raymond James cut Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 6th. StockNews.com cut Ares Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lowered their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.94.

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.