Janney Montgomery Scott LLC Sells 102,806 Shares of Ares Capital Co. (NASDAQ:ARCC)

Janney Montgomery Scott LLC trimmed its stake in shares of Ares Capital Co. (NASDAQ:ARCC) by 11.9% in the third quarter, Holdings Channel.com reports. The fund owned 761,834 shares of the investment management company’s stock after selling 102,806 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Ares Capital were worth $15,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jamison Private Wealth Management Inc. raised its holdings in Ares Capital by 62.7% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company’s stock worth $26,000 after purchasing an additional 475 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Ares Capital by 1.6% during the second quarter. Capital Investment Advisors LLC now owns 32,691 shares of the investment management company’s stock worth $681,000 after buying an additional 499 shares during the last quarter. JBR Co Financial Management Inc lifted its holdings in Ares Capital by 1.5% in the third quarter. JBR Co Financial Management Inc now owns 33,047 shares of the investment management company’s stock valued at $692,000 after buying an additional 500 shares during the period. Onyx Bridge Wealth Group LLC boosted its position in Ares Capital by 1.2% during the third quarter. Onyx Bridge Wealth Group LLC now owns 43,609 shares of the investment management company’s stock valued at $913,000 after acquiring an additional 531 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in Ares Capital by 3.9% during the 2nd quarter. Centaurus Financial Inc. now owns 14,428 shares of the investment management company’s stock worth $301,000 after acquiring an additional 542 shares during the period. 27.38% of the stock is owned by institutional investors and hedge funds.

Ares Capital Stock Performance

ARCC opened at $21.01 on Wednesday. The company has a market cap of $13.57 billion, a price-to-earnings ratio of 8.08 and a beta of 1.01. The company’s fifty day moving average price is $21.00 and its two-hundred day moving average price is $20.96. Ares Capital Co. has a 1-year low of $19.32 and a 1-year high of $22.05. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.

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). The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. Ares Capital’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.59 EPS. On average, analysts expect that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.92 annualized dividend and a yield of 9.14%. Ares Capital’s dividend payout ratio (DPR) is currently 73.85%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ARCC shares. UBS Group raised Ares Capital to a “hold” rating in a research note on Friday, August 23rd. B. Riley raised their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Ares Capital from a “hold” rating to a “sell” rating in a report on Monday. Finally, Compass Point raised shares of 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 issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

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.