DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its holdings in Ares Management Co. (NYSE:ARES - Free Report) by 24.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,652 shares of the asset manager's stock after selling 19,468 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Ares Management were worth $10,737,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Ares Management by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after purchasing an additional 907,757 shares in the last quarter. Capital World Investors lifted its holdings in shares of Ares Management by 2.1% in the fourth quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock valued at $1,903,741,000 after purchasing an additional 223,919 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Ares Management by 0.4% in the fourth quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock valued at $1,465,433,000 after purchasing an additional 33,700 shares in the last quarter. FMR LLC lifted its holdings in shares of Ares Management by 12.8% in the fourth quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock valued at $1,258,519,000 after purchasing an additional 807,361 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Ares Management by 1.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock valued at $907,534,000 after purchasing an additional 66,671 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
ARES has been the topic of a number of research reports. Bank of America cut their price target on Ares Management from $221.00 to $201.00 and set a "buy" rating on the stock in a report on Friday, April 4th. JMP Securities boosted their price target on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday, May 8th. TD Cowen dropped their target price on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Barclays upped their target price on Ares Management from $142.00 to $182.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Oppenheimer lowered Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.
Check Out Our Latest Analysis on ARES
Ares Management Stock Performance
Shares of NYSE ARES traded down $7.36 during trading hours on Thursday, reaching $168.48. 1,577,997 shares of the stock were exchanged, compared to its average volume of 1,776,812. The firm has a market capitalization of $53.14 billion, a price-to-earnings ratio of 83.07, a P/E/G ratio of 1.28 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. Ares Management Co. has a 52 week low of $110.63 and a 52 week high of $200.49. The stock's fifty day simple moving average is $147.41 and its 200 day simple moving average is $167.62.
Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.15. The business had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. During the same quarter in the prior year, the business posted $0.80 earnings per share. Sell-side analysts predict that Ares Management Co. will post 5.28 EPS for the current year.
Ares Management Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, June 16th. Ares Management's dividend payout ratio is presently 263.53%.
Insider Activity
In other news, insider David B. Kaplan sold 69,526 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $160.99, for a total value of $11,192,990.74. Following the completion of the sale, the insider now directly owns 30,474 shares in the company, valued at $4,906,009.26. This trade represents a 69.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction dated 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 transaction, the chief executive officer now owns 1,400,000 shares of the company's stock, valued at $214,438,000. This trade represents a 7.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,180 shares of company stock worth $39,411,066. Insiders own 36.86% of the company's stock.
About Ares Management
(
Free Report)
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.
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