Trust Co. of Vermont Sells 905 Shares of Ares Capital Corporation $ARCC

Trust Co. of Vermont lowered its stake in Ares Capital Corporation (NASDAQ:ARCC) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,095 shares of the investment management company’s stock after selling 905 shares during the period. Trust Co. of Vermont’s holdings in Ares Capital were worth $397,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Elequin Capital LP bought a new stake in Ares Capital in the first quarter valued at $30,000. Continuum Advisory LLC boosted its holdings in shares of Ares Capital by 320.7% during the 1st quarter. Continuum Advisory LLC now owns 1,628 shares of the investment management company’s stock valued at $36,000 after buying an additional 1,241 shares in the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Ares Capital during the 2nd quarter valued at $40,000. Investment Management Corp VA ADV boosted its holdings in shares of Ares Capital by 193.9% during the 1st quarter. Investment Management Corp VA ADV now owns 1,828 shares of the investment management company’s stock valued at $41,000 after buying an additional 1,206 shares in the last quarter. Finally, PSI Advisors LLC boosted its holdings in shares of Ares Capital by 121.1% during the 1st quarter. PSI Advisors LLC now owns 2,100 shares of the investment management company’s stock valued at $47,000 after buying an additional 1,150 shares in the last quarter. Institutional investors own 27.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ARCC has been the topic of a number of research reports. B. Riley upgraded shares of Ares Capital from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.50 to $23.50 in a report on Wednesday, July 30th. Keefe, Bruyette & Woods boosted 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 Wednesday, July 30th. JMP Securities set a $23.00 target price on shares of Ares Capital and gave the company a “market outperform” rating in a report on Thursday, July 31st. Wells Fargo & Company lifted their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Ares Capital in a research report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.86.

Ares Capital Price Performance

ARCC opened at $20.13 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $14.20 billion, a PE ratio of 9.82 and a beta of 0.68. The stock has a 50-day moving average price of $22.03 and a 200-day moving average price of $21.73. Ares Capital Corporation has a 1 year low of $18.26 and a 1 year high of $23.84.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). Ares Capital had a net margin of 44.94% and a return on equity of 10.48%. The company had revenue of $614.00 million for the quarter, compared to analysts’ expectations of $748.76 million. During the same period in the previous year, the business earned $0.61 EPS. Sell-side analysts predict that Ares Capital Corporation will post 2.19 earnings per share for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.5%. Ares Capital’s payout ratio is currently 93.66%.

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.