Evergreen Capital Management LLC Has $8.24 Million Stake in Ares Capital Co. (NASDAQ:ARCC)

Evergreen Capital Management LLC reduced its stake in Ares Capital Co. (NASDAQ:ARCC) by 3.3% in the 4th quarter, Holdings Channel reports. The firm owned 376,587 shares of the investment management company’s stock after selling 13,031 shares during the period. Evergreen Capital Management LLC’s holdings in Ares Capital were worth $8,243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARCC. Montag & Caldwell LLC bought a new stake in Ares Capital during the 4th quarter valued at approximately $33,000. VSM Wealth Advisory LLC bought a new stake in shares of Ares Capital in the fourth quarter valued at approximately $35,000. Promus Capital LLC acquired a new stake in shares of Ares Capital in the fourth quarter worth $48,000. SRS Capital Advisors Inc. bought a new position in Ares Capital during the fourth quarter worth $60,000. Finally, Montag A & Associates Inc. boosted its holdings 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 purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 27.38% of the company’s stock.

Ares Capital Trading Up 0.7 %

Shares of ARCC stock opened at $20.17 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $13.81 billion, a P/E ratio of 8.23 and a beta of 0.77. Ares Capital Co. has a 12-month low of $18.26 and a 12-month high of $23.84. The firm has a 50-day moving average price of $22.00 and a 200 day moving average price of $21.96.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 5th. The investment management company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. Research analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.52%. The ex-dividend date was Friday, March 14th. Ares Capital’s payout ratio is presently 78.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ARCC shares. JPMorgan Chase & Co. upped their price objective on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their price target on Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a 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. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.81.

About Ares Capital

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.