Evergreen Capital Management LLC Sells 11,223 Shares of Ares Capital Co. (NASDAQ:ARCC)

Evergreen Capital Management LLC cut its holdings in Ares Capital Co. (NASDAQ:ARCC) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,071 shares of the investment management company’s stock after selling 11,223 shares during the quarter. Evergreen Capital Management LLC owned approximately 0.06% of Ares Capital worth $8,212,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ARCC. Chicago Partners Investment Group LLC increased its stake in shares of Ares Capital by 5.5% during the fourth quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company’s stock valued at $7,913,000 after purchasing an additional 20,202 shares in the last quarter. Gilbert & Cook Inc. raised its stake in Ares Capital by 6.6% during the fourth quarter. Gilbert & Cook Inc. now owns 1,384,752 shares of the investment management company’s stock valued at $27,737,000 after buying an additional 85,561 shares during the last quarter. Confluence Investment Management LLC bought a new stake in Ares Capital in the first quarter worth $86,227,000. Trexquant Investment LP purchased a new stake in shares of Ares Capital in the fourth quarter worth $1,609,000. Finally, SteelPeak Wealth LLC increased its holdings in shares of Ares Capital by 151.4% during the second quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company’s stock valued at $952,000 after acquiring an additional 27,523 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Price Performance

Shares of ARCC opened at $20.61 on Monday. The firm has a market cap of $12.67 billion, a PE ratio of 7.06 and a beta of 1.01. Ares Capital Co. has a 1-year low of $18.55 and a 1-year high of $21.84. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $20.73 and a two-hundred day simple moving average of $20.78.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $755.00 million for the quarter, compared to the consensus estimate of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, equities analysts anticipate that Ares Capital Co. will post 2.38 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date is Friday, September 13th. Ares Capital’s payout ratio is 65.75%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ARCC shares. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a report on Monday, August 5th. JMP Securities upped their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Compass Point raised Ares Capital to a “strong-buy” rating in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

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.