Triumph Capital Management Has $936,000 Position in Ares Capital Co. (NASDAQ:ARCC)

Triumph Capital Management trimmed its stake in Ares Capital Co. (NASDAQ:ARCC - Free Report) by 40.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,747 shares of the investment management company's stock after selling 29,588 shares during the period. Triumph Capital Management's holdings in Ares Capital were worth $936,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ARCC. Van ECK Associates Corp increased its position in Ares Capital by 11.8% in the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock worth $309,649,000 after buying an additional 1,489,552 shares during the period. JPMorgan Chase & Co. increased its position in Ares Capital by 26.0% in the 4th quarter. JPMorgan Chase & Co. now owns 4,268,547 shares of the investment management company's stock worth $93,439,000 after buying an additional 881,450 shares during the period. Generali Asset Management SPA SGR bought a new position in Ares Capital in the 4th quarter worth approximately $84,426,000. Advisors Capital Management LLC increased its position in Ares Capital by 3.1% in the 4th quarter. Advisors Capital Management LLC now owns 3,523,651 shares of the investment management company's stock worth $77,133,000 after buying an additional 105,526 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Ares Capital in the 4th quarter worth approximately $58,159,000. 27.38% of the stock is owned by institutional investors.

Ares Capital Price Performance

ARCC stock traded up $0.07 during trading on Friday, hitting $21.59. The company had a trading volume of 2,118,072 shares, compared to its average volume of 4,133,648. The company has a fifty day moving average price of $21.05 and a two-hundred day moving average price of $21.91. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The company has a market cap of $14.89 billion, a P/E ratio of 8.81 and a beta of 0.70. Ares Capital Co. has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

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

Ares Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 8.89%. The ex-dividend date is Friday, June 13th. Ares Capital's dividend payout ratio is 93.66%.

Analysts Set New Price Targets

ARCC has been the topic of several recent analyst reports. Raymond James downgraded Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered Ares Capital from a "hold" rating to a "sell" rating in a report on Friday, February 7th. Royal Bank of Canada decreased their price objective on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods decreased their price objective on Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

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.