Fiduciary Alliance LLC Has $371,000 Stock Holdings in Ares Capital Co. (NASDAQ:ARCC)

Fiduciary Alliance LLC trimmed its holdings in Ares Capital Co. (NASDAQ:ARCC) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,720 shares of the investment management company’s stock after selling 1,466 shares during the quarter. Fiduciary Alliance LLC’s holdings in Ares Capital were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in shares of Ares Capital by 11.8% in the fourth quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company’s stock worth $309,649,000 after purchasing an additional 1,489,552 shares during the last quarter. Bank of America Corp DE grew its holdings in Ares Capital by 12.3% during the fourth quarter. Bank of America Corp DE now owns 7,951,926 shares of the investment management company’s stock valued at $174,068,000 after purchasing an additional 871,370 shares during the period. JPMorgan Chase & Co. grew its holdings in Ares Capital by 26.0% during the fourth quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company’s stock valued at $93,439,000 after purchasing an additional 881,450 shares during the period. Generali Asset Management SPA SGR bought a new position in Ares Capital during the fourth quarter valued at $84,426,000. Finally, Advisors Capital Management LLC grew its holdings in Ares Capital by 3.1% during the fourth quarter. Advisors Capital Management LLC now owns 3,523,651 shares of the investment management company’s stock valued at $77,133,000 after purchasing an additional 105,526 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company cut their price target on Ares Capital from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, April 28th. UBS Group cut their price target on Ares Capital from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Raymond James lowered Ares Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada cut their price target on Ares Capital from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ares Capital currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Ares Capital Stock Performance

Shares of ARCC opened at $21.96 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 business’s 50 day moving average price is $21.04 and its 200-day moving average price is $21.94. 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 $15.24 billion, a P/E ratio of 8.96 and a beta of 0.68.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $769.32 million. Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Equities research analysts anticipate that Ares Capital Co. will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 8.74%. The ex-dividend date of this dividend is Friday, June 13th. Ares Capital’s dividend payout ratio is currently 93.66%.

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.