Evercore Wealth Management LLC Has $22.62 Million Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Evercore Wealth Management LLC trimmed its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 0.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,033,109 shares of the investment management company’s stock after selling 1,411 shares during the quarter. Evercore Wealth Management LLC owned 0.15% of Ares Capital worth $22,615,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Montag & Caldwell LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $33,000. VSM Wealth Advisory LLC acquired a new stake in shares of Ares Capital in the 4th quarter valued at about $35,000. Promus Capital LLC bought a new stake in shares of Ares Capital in the fourth quarter valued at about $48,000. SRS Capital Advisors Inc. acquired a new position in shares of Ares Capital during the fourth quarter worth about $60,000. Finally, Montag A & Associates Inc. grew its holdings in shares of Ares Capital by 92.6% during the fourth quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company’s stock worth $63,000 after buying an additional 1,389 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ARCC. Royal Bank of Canada upped their price target on Ares Capital from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James lowered shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company dropped their target price on Ares Capital from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.61.

Ares Capital Stock Performance

NASDAQ ARCC opened at $20.40 on Wednesday. Ares Capital Co. has a 52-week low of $18.26 and a 52-week high of $23.84. The stock has a market cap of $13.96 billion, a PE ratio of 8.33 and a beta of 0.77. The firm has a 50-day moving average of $21.74 and a 200-day moving average of $21.94. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. On average, sell-side analysts anticipate that Ares Capital Co. will post 2.19 EPS for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.41%. The ex-dividend date was Friday, March 14th. Ares Capital’s payout ratio is 78.37%.

Ares Capital Company 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.