Toronto Dominion Bank Has $4.46 Million Position in Ares Management Co. (NYSE:ARES)

Toronto Dominion Bank increased its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,175 shares of the asset manager's stock after purchasing an additional 2,425 shares during the period. Toronto Dominion Bank's holdings in Ares Management were worth $4,456,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Ares Management during the fourth quarter worth approximately $335,858,000. Charles Schwab Investment Management Inc. increased its position in Ares Management by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock worth $126,622,000 after acquiring an additional 32,273 shares during the period. JPMorgan Chase & Co. raised its stake in Ares Management by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager's stock valued at $1,284,773,000 after purchasing an additional 679,462 shares during the last quarter. Soros Capital Management LLC acquired a new position in Ares Management during the 4th quarter valued at $10,144,000. Finally, Asset Management One Co. Ltd. boosted its holdings in Ares Management by 4.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 72,065 shares of the asset manager's stock valued at $12,936,000 after purchasing an additional 3,274 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insider Activity

In other news, insider David B. Kaplan sold 33,145 shares of Ares Management stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $165.12, for a total transaction of $5,472,902.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ashish Bhutani acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $141.33 per share, for a total transaction of $1,413,300.00. Following the completion of the acquisition, the director now directly owns 22,905 shares of the company's stock, valued at $3,237,163.65. This trade represents a 77.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 898,990 shares of company stock valued at $148,835,332. Company insiders own 36.86% of the company's stock.

Ares Management Price Performance

NYSE ARES traded up $1.74 on Tuesday, hitting $168.53. 1,279,870 shares of the company were exchanged, compared to its average volume of 1,425,639. Ares Management Co. has a 1-year low of $110.63 and a 1-year high of $200.49. The firm has a 50 day moving average of $152.37 and a two-hundred day moving average of $167.31. 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 company has a market cap of $55.04 billion, a P/E ratio of 83.02, a P/E/G ratio of 1.28 and a beta of 1.40.

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

Ares Management Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $1.12 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a yield of 2.66%. Ares Management's payout ratio is 263.53%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ARES shares. Bank of America cut their price objective on shares of 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 downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. JMP Securities boosted their price objective on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research report on Thursday, May 8th. Morgan Stanley cut their target price on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Wolfe Research set a $193.00 price target on shares of Ares Management and gave the company an "outperform" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $174.94.

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.