Bruni J V & Co. Co. Trims Position in Ares Capital Co. (NASDAQ:ARCC)

Bruni J V & Co. Co. cut its holdings in shares of Ares Capital Co. (NASDAQ:ARCC) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,363,478 shares of the investment management company’s stock after selling 16,469 shares during the quarter. Ares Capital accounts for about 3.4% of Bruni J V & Co. Co.’s portfolio, making the stock its 15th largest holding. Bruni J V & Co. Co. owned about 0.21% of Ares Capital worth $29,847,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Ares Capital during the 4th quarter worth approximately $519,000. Round Rock Advisors LLC purchased a new position in Ares Capital during the 4th quarter worth approximately $1,512,000. Chicago Partners Investment Group LLC raised its position in Ares Capital by 5.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 507,374 shares of the investment management company’s stock worth $11,208,000 after buying an additional 25,347 shares during the last quarter. Franklin Resources Inc. raised its position in Ares Capital by 24.3% during the 3rd quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company’s stock worth $13,900,000 after buying an additional 127,219 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Ares Capital by 4.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company’s stock valued at $18,540,000 after purchasing an additional 38,559 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Price Performance

Ares Capital stock opened at $23.38 on Friday. Ares Capital Co. has a 1 year low of $19.32 and a 1 year high of $23.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.21 and a current ratio of 1.21. The company’s fifty day moving average price is $22.81 and its 200 day moving average price is $21.79. The stock has a market capitalization of $15.70 billion, a P/E ratio of 9.54 and a beta of 1.01.

Ares Capital (NASDAQ:ARCC) last announced its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (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%. As a group, 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.92 annualized dividend and a yield of 8.21%. Ares Capital’s dividend payout ratio (DPR) is presently 78.37%.

Analyst Upgrades and Downgrades

ARCC has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Ares Capital from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada lifted their target price on shares of Ares Capital from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their target price on shares of Ares Capital from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their target price on shares of Ares Capital from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, StockNews.com lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.94.

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.