Ares Management Co. (NYSE:ARES) Shares Bought by Guinness Asset Management LTD

Guinness Asset Management LTD grew its position in Ares Management Co. (NYSE:ARES) by 50.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,308 shares of the asset manager’s stock after purchasing an additional 1,776 shares during the period. Guinness Asset Management LTD’s holdings in Ares Management were worth $940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ARES. Versant Capital Management Inc lifted its position in Ares Management by 67.0% during the fourth quarter. Versant Capital Management Inc now owns 162 shares of the asset manager’s stock valued at $29,000 after buying an additional 65 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ares Management by 53.4% during the 4th quarter. GAMMA Investing LLC now owns 227 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 79 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Ares Management during the 3rd quarter worth $36,000. Eastern Bank acquired a new stake in Ares Management in the 3rd quarter valued at $39,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Ares Management by 21.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 559 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 50.03% of the company’s stock.

Ares Management Price Performance

Shares of NYSE ARES opened at $191.69 on Monday. The business has a 50 day simple moving average of $177.20 and a 200-day simple moving average of $160.50. Ares Management Co. has a twelve month low of $112.83 and a twelve month high of $192.01. The company has a market capitalization of $60.01 billion, a price-to-earnings ratio of 88.34, a price-to-earnings-growth ratio of 1.33 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $833.58 million. During the same period last year, the firm posted $0.83 EPS. As a group, equities research analysts expect that Ares Management Co. will post 4.06 earnings per share for the current year.

Ares Management Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, December 17th. Ares Management’s payout ratio is 171.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group raised their price target on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. TD Cowen lifted their price target on shares of Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.92.

Insider Buying and Selling

In related news, Chairman Bennett Rosenthal sold 20,048 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.44, for a total value of $3,356,837.12. Following the sale, the chairman now owns 229,952 shares of the company’s stock, valued at $38,503,162.88. This trade represents a 8.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David B. Kaplan sold 19,775 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $167.45, for a total transaction of $3,311,323.75. Following the transaction, the insider now directly owns 230,225 shares of the company’s stock, valued at $38,551,176.25. The trade was a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 574,167 shares of company stock valued at $99,996,647. Insiders own 41.89% of the company’s stock.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.