Fiduciary Trust Co Takes $341,000 Position in Ares Management Co. (NYSE:ARES)

Fiduciary Trust Co purchased a new stake in shares of Ares Management Co. (NYSE:ARES - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,929 shares of the asset manager's stock, valued at approximately $341,000.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Bank of America lowered their price objective on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Oppenheimer lowered shares of Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday. Wolfe Research set a $193.00 price objective on shares of Ares Management and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Wells Fargo & Company raised their target price on shares of Ares Management from $156.00 to $182.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Barclays lifted their target price on shares of Ares Management from $142.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Ares Management currently has an average rating of "Moderate Buy" and an average target price of $174.50.

Insider Buying and Selling at Ares Management

In related news, Chairman Bennett Rosenthal sold 69,809 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $161.01, for a total value of $11,239,947.09. Following the transaction, the chairman now directly owns 30,191 shares of the company's stock, valued at approximately $4,861,052.91. This trade represents a 69.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David B. Kaplan sold 69,526 shares of Ares Management stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $160.99, for a total value of $11,192,990.74. Following the transaction, the insider now owns 30,474 shares in the company, valued at $4,906,009.26. This trade represents a 69.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,180 shares of company stock valued at $39,411,066. 36.86% of the stock is owned by company insiders.

Ares Management Stock Performance

Shares of Ares Management stock traded up $1.63 during trading on Friday, hitting $170.33. 1,700,541 shares of the company's stock traded hands, compared to its average volume of 1,424,291. The business has a 50-day simple moving average of $147.97 and a 200-day simple moving average of $167.61. Ares Management Co. has a 1 year low of $110.63 and a 1 year high of $200.49. The stock has a market capitalization of $53.72 billion, a P/E ratio of 83.91, a PEG ratio of 1.28 and a beta of 1.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05.

Ares Management (NYSE:ARES - Get Free Report) last posted its earnings results 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 business had revenue of $951.96 million during the quarter, compared to the consensus estimate of $914.00 million. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, analysts forecast that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

The company 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. This represents a $4.48 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Monday, June 16th. Ares Management's payout ratio is currently 263.53%.

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.