Paradigm Asset Management Co. LLC Acquires Shares of 1,400 Ares Management Co. (NYSE:ARES)

Paradigm Asset Management Co. LLC bought a new position in shares of Ares Management Co. (NYSE:ARES) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,400 shares of the asset manager’s stock, valued at approximately $248,000.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Ares Management by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager’s stock valued at $1,284,773,000 after purchasing an additional 679,462 shares in the last quarter. FMR LLC lifted its holdings in Ares Management by 1.0% during the third quarter. FMR LLC now owns 6,301,709 shares of the asset manager’s stock worth $982,058,000 after buying an additional 63,851 shares during the period. State Street Corp lifted its holdings in Ares Management by 5.1% during the third quarter. State Street Corp now owns 3,826,479 shares of the asset manager’s stock worth $596,318,000 after buying an additional 187,184 shares during the period. Franklin Resources Inc. boosted its position in Ares Management by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,678,177 shares of the asset manager’s stock valued at $600,830,000 after acquiring an additional 18,773 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Ares Management by 12.4% in the 4th quarter. Principal Financial Group Inc. now owns 3,201,863 shares of the asset manager’s stock valued at $566,826,000 after acquiring an additional 352,126 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Trading Down 3.2 %

Shares of NYSE:ARES opened at $174.00 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 52-week low of $125.23 and a 52-week high of $200.49. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 85.71, a PEG ratio of 1.38 and a beta of 1.18. The business has a 50-day moving average price of $185.12 and a 200-day moving average price of $168.02.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. Equities analysts predict that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $1.12 per share. The ex-dividend date is Monday, March 17th. This is an increase from Ares Management’s previous quarterly dividend of $0.93. This represents a $4.48 dividend on an annualized basis and a yield of 2.57%. Ares Management’s payout ratio is currently 183.25%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised Ares Management from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $166.00 to $202.00 in a research report on Friday, December 20th. Royal Bank of Canada lifted their price objective on shares of Ares Management from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. decreased their target price 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. Barclays cut their price target on shares of Ares Management from $224.00 to $217.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, TD Cowen upped their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.17.

Insider Buying and Selling at Ares Management

In other news, insider Ryan Berry sold 5,443 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $180.14, for a total value of $980,502.02. Following the completion of the transaction, the insider now owns 247,771 shares of the company’s stock, valued at $44,633,467.94. The trade was a 2.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 29,198 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $175.82, for a total value of $5,133,592.36. Following the completion of the sale, the chairman now owns 85,769 shares in the company, valued at $15,079,905.58. The trade was a 25.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,200 shares of company stock valued at $70,426,505. 1.20% of the stock is owned by insiders.

About Ares Management

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.