Baldwin Investment Management LLC Sells 3,613 Shares of Ares Capital Co. (NASDAQ:ARCC)

Baldwin Investment Management LLC lowered its position in Ares Capital Co. (NASDAQ:ARCC) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,674 shares of the investment management company’s stock after selling 3,613 shares during the period. Baldwin Investment Management LLC’s holdings in Ares Capital were worth $1,061,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Ares Capital by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 21,527 shares of the investment management company’s stock worth $448,000 after acquiring an additional 695 shares during the last quarter. SVB Wealth LLC lifted its position in Ares Capital by 16.7% during the 1st quarter. SVB Wealth LLC now owns 17,305 shares of the investment management company’s stock valued at $360,000 after purchasing an additional 2,473 shares during the period. Tidal Investments LLC boosted its stake in shares of Ares Capital by 6.3% in the 1st quarter. Tidal Investments LLC now owns 54,206 shares of the investment management company’s stock valued at $1,129,000 after purchasing an additional 3,206 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Ares Capital by 60.6% during the first quarter. Beacon Capital Management LLC now owns 4,609 shares of the investment management company’s stock worth $96,000 after buying an additional 1,740 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Ares Capital in the first quarter valued at approximately $272,000. 27.38% of the stock is currently owned by institutional investors.

Ares Capital Stock Performance

NASDAQ ARCC opened at $22.00 on Wednesday. The company has a market cap of $14.21 billion, a PE ratio of 8.46 and a beta of 1.01. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $22.15. The stock has a 50 day moving average of $21.25 and a 200-day moving average of $21.05. 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 issued its earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a net margin of 53.71% and a return on equity of 12.06%. The firm had revenue of $755.00 million during the quarter, compared to the consensus estimate of $770.45 million. During the same period in the previous year, the company posted $0.59 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current fiscal year.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date of this dividend is Friday, December 13th. Ares Capital’s dividend payout ratio is presently 73.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JMP Securities raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Compass Point raised shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group raised shares of Ares Capital to a “hold” rating in a research report on Friday, August 23rd. B. Riley boosted their target price on Ares Capital from $21.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with 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, Ares Capital presently has a consensus rating of “Moderate Buy” and an average target price of $21.86.

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.