Cresset Asset Management LLC Sells 15,013 Shares of Ares Management Co. (NYSE:ARES)

Cresset Asset Management LLC decreased its stake in shares of Ares Management Co. (NYSE:ARES - Free Report) by 46.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,439 shares of the asset manager's stock after selling 15,013 shares during the period. Cresset Asset Management LLC's holdings in Ares Management were worth $3,087,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in shares of Ares Management during the 4th quarter valued at $29,000. Johnson Financial Group Inc. raised its position in Ares Management by 104.8% in the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock valued at $30,000 after purchasing an additional 87 shares during the period. Noble Wealth Management PBC purchased a new position in Ares Management in the fourth quarter valued at about $36,000. GAMMA Investing LLC grew its stake in shares of Ares Management by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 227 shares of the asset manager's stock valued at $40,000 after buying an additional 79 shares in the last quarter. Finally, Avalon Trust Co acquired a new stake in shares of Ares Management in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 50.03% of the company's stock.

Analyst Ratings Changes

ARES has been the subject of several recent analyst reports. Wolfe Research set a $193.00 target price on Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group reduced their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. TD Cowen cut their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America cut their target price on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Finally, JMP Securities lifted their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Ares Management Price Performance

Shares of Ares Management stock traded down $0.92 during trading on Friday, reaching $164.93. The company's stock had a trading volume of 1,659,104 shares, compared to its average volume of 1,409,920. The stock has a 50-day moving average price of $146.41 and a two-hundred day moving average price of $167.51. 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 Co. has a one year low of $110.63 and a one year high of $200.49. The stock has a market capitalization of $52.02 billion, a P/E ratio of 81.25, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. The firm had revenue of $951.96 million during 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 last year, the company earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.72%. Ares Management's dividend payout ratio is currently 263.53%.

Insider Activity at Ares Management

In related news, Chairman Bennett Rosenthal sold 69,809 shares of Ares Management stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the completion of the sale, the chairman now directly owns 30,191 shares of the company's stock, valued at $4,861,052.91. The trade was a 69.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Arougheti sold 110,845 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $153.17, for a total value of $16,978,128.65. Following the transaction, the chief executive officer now owns 1,400,000 shares in the company, valued at approximately $214,438,000. This trade represents a 7.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,180 shares of company stock worth $39,411,066 over the last ninety days. Company insiders own 0.52% of the company's stock.

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.