US Bancorp DE Sells 1,862 Shares of Ares Capital Co. (NASDAQ:ARCC)

US Bancorp DE trimmed its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 4.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,111 shares of the investment management company’s stock after selling 1,862 shares during the period. US Bancorp DE’s holdings in Ares Capital were worth $861,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ares Capital by 41.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,338 shares of the investment management company’s stock worth $548,000 after purchasing an additional 7,695 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Ares Capital by 19.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,990 shares of the investment management company’s stock worth $250,000 after purchasing an additional 1,966 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Ares Capital by 206.7% in the 1st quarter. SG Americas Securities LLC now owns 55,516 shares of the investment management company’s stock worth $1,156,000 after purchasing an additional 37,412 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Ares Capital by 1.4% in the 1st quarter. Atomi Financial Group Inc. now owns 43,342 shares of the investment management company’s stock worth $902,000 after purchasing an additional 600 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of Ares Capital by 4.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 124,004 shares of the investment management company’s stock worth $2,582,000 after purchasing an additional 5,811 shares in the last quarter. 27.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ARCC shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a report on Monday, August 5th. UBS Group upgraded Ares Capital to a “hold” rating in a research note on Friday, August 23rd. JMP Securities raised their price objective on Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. StockNews.com cut Ares Capital from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Compass Point upgraded Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Ares Capital Trading Up 0.9 %

Shares of ARCC opened at $21.53 on Friday. The stock has a market capitalization of $13.91 billion, a P/E ratio of 8.28 and a beta of 1.01. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $21.02 and a two-hundred day simple moving average of $20.97. Ares Capital Co. has a twelve month low of $19.32 and a twelve month high of $22.05.

Ares Capital (NASDAQ:ARCC) 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 analysts’ expectations of $770.45 million. During the same period in the previous year, the company earned $0.59 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, December 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.92%. Ares Capital’s dividend payout ratio (DPR) is currently 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.