Coastal Bridge Advisors LLC Sells 5,350 Shares of Ares Management Co. (NYSE:ARES)

Coastal Bridge Advisors LLC trimmed its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 10.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,150 shares of the asset manager's stock after selling 5,350 shares during the quarter. Ares Management accounts for about 2.0% of Coastal Bridge Advisors LLC's portfolio, making the stock its 11th largest position. Coastal Bridge Advisors LLC's holdings in Ares Management were worth $7,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ARES. Deutsche Bank AG lifted its position in shares of Ares Management by 16.7% in the 4th quarter. Deutsche Bank AG now owns 246,147 shares of the asset manager's stock worth $43,575,000 after purchasing an additional 35,196 shares during the period. Brevan Howard Capital Management LP bought a new position in Ares Management during the fourth quarter worth $1,003,000. Captrust Financial Advisors lifted its holdings in Ares Management by 14.8% in the fourth quarter. Captrust Financial Advisors now owns 8,107 shares of the asset manager's stock valued at $1,435,000 after buying an additional 1,043 shares during the period. Brown Advisory Inc. boosted its position in Ares Management by 8.8% during the fourth quarter. Brown Advisory Inc. now owns 3,727,597 shares of the asset manager's stock valued at $659,896,000 after acquiring an additional 302,303 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Ares Management by 4.5% during the 4th quarter. Baird Financial Group Inc. now owns 3,299 shares of the asset manager's stock worth $584,000 after acquiring an additional 143 shares during the period. 50.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ARES shares. TD Cowen dropped their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. Oppenheimer upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $159.00 price objective for the company in a research note on Wednesday, April 16th. JMP Securities increased their target price on shares of Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday. Finally, Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $174.50.

Ares Management Stock Performance

NYSE ARES traded down $0.92 on Friday, hitting $164.93. 1,659,104 shares of the stock traded hands, compared to its average volume of 1,409,920. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $52.02 billion, a price-to-earnings ratio of 81.25, a PEG ratio of 1.28 and a beta of 1.40. Ares Management Co. has a 12 month low of $110.63 and a 12 month high of $200.49. The business's fifty day moving average is $146.41 and its two-hundred day moving average is $167.53.

Ares Management (NYSE:ARES - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. The company had revenue of $951.96 million for the quarter, compared to analyst estimates of $914.00 million. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. During the same period in the previous year, the company posted $0.80 EPS. As a group, equities analysts anticipate that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.72%. Ares Management's dividend payout ratio (DPR) is currently 263.53%.

Insider Transactions at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 110,845 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $153.17, for a total value of $16,978,128.65. Following the completion of the transaction, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at $214,438,000. The trade was a 7.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ashish Bhutani bought 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the transaction, the director now directly owns 22,905 shares of the company's stock, valued at $3,237,163.65. This represents a 77.49 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 250,180 shares of company stock valued at $39,411,066. 0.52% of the stock is currently owned by company insiders.

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.