Ares Management Co. (NYSE:ARES) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC raised its position in shares of Ares Management Co. (NYSE:ARES) by 14.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,053 shares of the asset manager’s stock after buying an additional 1,038 shares during the period. NewEdge Wealth LLC’s holdings in Ares Management were worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Siligmueller & Norvid Wealth Advisors LLC acquired a new position in Ares Management during the 4th quarter worth about $6,621,000. Fjell Capital LLC acquired a new stake in shares of Ares Management during the fourth quarter worth about $1,059,000. Lake Street Advisors Group LLC lifted its position in shares of Ares Management by 183.2% during the fourth quarter. Lake Street Advisors Group LLC now owns 49,355 shares of the asset manager’s stock worth $8,737,000 after purchasing an additional 31,930 shares in the last quarter. LGL Partners LLC purchased a new position in shares of Ares Management in the fourth quarter valued at approximately $209,000. Finally, FFT Wealth Management LLC acquired a new position in shares of Ares Management in the fourth quarter valued at approximately $349,000. 50.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the insider now owns 247,771 shares in the company, valued at $44,633,467.94. The trade was a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider R. Kipp Deveer sold 115,838 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $177.83, for a total value of $20,599,471.54. Following the sale, the insider now directly owns 1,259,162 shares of the company’s stock, valued at $223,916,778.46. The trade was a 8.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 214,571 shares of company stock valued at $39,165,379. 1.20% of the stock is currently owned by company insiders.

Ares Management Trading Up 2.3 %

Shares of Ares Management stock opened at $170.93 on Friday. The company has a fifty day simple moving average of $184.25 and a 200-day simple moving average of $169.54. Ares Management Co. has a 12-month low of $125.23 and a 12-month high of $200.49. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. The stock has a market cap of $53.51 billion, a price-to-earnings ratio of 84.20, a PEG ratio of 1.28 and a beta of 1.18.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.12). Ares Management had a return on equity of 16.64% and a net margin of 11.35%. On average, equities analysts forecast that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $1.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $4.48 dividend on an annualized basis and a yield of 2.62%. This is a boost from Ares Management’s previous quarterly dividend of $0.93. Ares Management’s payout ratio is currently 183.25%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays reduced their target price 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. Deutsche Bank Aktiengesellschaft lifted their target price on Ares Management from $146.00 to $150.00 and gave the company a “hold” rating in a report on Monday, November 11th. TD Cowen upped their price target on Ares Management from $184.00 to $187.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods upgraded Ares Management from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $166.00 to $202.00 in a research note on Friday, December 20th. Finally, JMP Securities restated a “market perform” rating on shares of Ares Management in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.17.

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.