Genesee Capital Advisors LLC Purchases 111 Shares of Ares Management Co. (NYSE:ARES)

Genesee Capital Advisors LLC raised its position in Ares Management Co. (NYSE:ARES) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,049 shares of the asset manager’s stock after purchasing an additional 111 shares during the quarter. Genesee Capital Advisors LLC’s holdings in Ares Management were worth $1,779,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Ares Management by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after buying an additional 679,462 shares during the period. FMR LLC increased its stake in shares of Ares Management by 1.0% in the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock valued at $982,058,000 after buying an additional 63,851 shares during the period. State Street Corp increased its stake in shares of Ares Management by 5.1% in the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock valued at $596,318,000 after buying an additional 187,184 shares during the period. Franklin Resources Inc. increased its stake in shares of Ares Management by 0.5% in the third quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock valued at $600,830,000 after buying an additional 18,773 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Ares Management by 6.3% in the third quarter. Geode Capital Management LLC now owns 2,950,451 shares of the asset manager’s stock valued at $459,580,000 after buying an additional 175,627 shares during the period. 50.03% of the stock is currently owned by institutional investors.

Ares Management Stock Performance

Shares of ARES stock opened at $193.51 on Wednesday. The firm has a 50-day moving average of $180.21 and a 200-day moving average of $162.87. The company has a market cap of $60.58 billion, a P/E ratio of 89.18, a P/E/G ratio of 1.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. Ares Management Co. has a one year low of $119.76 and a one year high of $197.53.

Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 1st. The asset manager reported $0.95 EPS for the quarter, beating the consensus estimate of $0.94 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $833.58 million. Ares Management had a net margin of 12.51% and a return on equity of 19.89%. During the same quarter in the prior year, the company posted $0.83 earnings per share. Equities research analysts forecast that Ares Management Co. will post 4.05 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a $0.93 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $3.72 annualized dividend and a dividend yield of 1.92%. Ares Management’s dividend payout ratio is currently 171.43%.

Insider Activity

In other Ares Management news, CEO Michael J. Arougheti sold 20,096 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 transaction of $3,364,874.24. Following the completion of the transaction, the chief executive officer now owns 229,904 shares in the company, valued at $38,495,125.76. This trade represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan Berry sold 18,329 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $175.18, for a total transaction of $3,210,874.22. Following the completion of the transaction, the insider now owns 254,885 shares of the company’s stock, valued at $44,650,754.30. This trade represents a 6.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 574,167 shares of company stock worth $99,996,647 over the last quarter. Insiders own 41.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Ares Management from $136.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen raised their target price on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on Ares Management from $146.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their target price on Ares Management from $212.00 to $207.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their target price on Ares Management from $176.00 to $174.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.08.

Ares Management 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.