Diversified Trust Co grew its holdings in Ares Management Corporation (NYSE:ARES - Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,567 shares of the asset manager's stock after purchasing an additional 1,559 shares during the quarter. Diversified Trust Co's holdings in Ares Management were worth $2,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Ares Management in the 4th quarter valued at about $335,858,000. Charles Schwab Investment Management Inc. increased its position in Ares Management by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock valued at $126,622,000 after buying an additional 32,273 shares in the last quarter. Soros Capital Management LLC bought a new stake in Ares Management in the 4th quarter valued at about $10,144,000. Commonwealth Equity Services LLC increased its position in Ares Management by 34.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 28,622 shares of the asset manager's stock valued at $5,067,000 after buying an additional 7,300 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Ares Management by 43.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,949 shares of the asset manager's stock valued at $579,000 after buying an additional 1,203 shares in the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ARES has been the subject of a number of research analyst reports. JMP Securities boosted their target price 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 decreased their target price on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Bank of America decreased their target price 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. Wells Fargo & Company boosted their price objective on Ares Management from $182.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, TD Cowen decreased their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $174.94.
Check Out Our Latest Stock Report on ARES
Insider Activity at Ares Management
In related news, insider David B. Kaplan sold 62,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $169.36, for a total value of $10,585,000.00. Following the transaction, the insider now owns 62,500 shares in the company, valued at approximately $10,585,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael J. Arougheti sold 107,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $161.34, for a total value of $17,344,050.00. Following the completion of the transaction, the chief executive officer now owns 1,400,000 shares in the company, valued at approximately $225,876,000. The trade was a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 873,145 shares of company stock worth $146,204,353. Insiders own 36.86% of the company's stock.
Ares Management Stock Performance
ARES stock opened at $173.29 on Friday. The firm has a market cap of $56.59 billion, a PE ratio of 101.94, a P/E/G ratio of 1.34 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $163.68 and a 200-day moving average of $166.61. Ares Management Corporation has a 12-month low of $110.63 and a 12-month high of $200.49.
Ares Management (NYSE:ARES - Get Free Report) last released its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.15. The company 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 16.29% and a net margin of 9.73%. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, sell-side analysts expect that Ares Management Corporation will post 5.28 earnings per share 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 paid a $1.12 dividend. The ex-dividend date is Monday, June 16th. This represents a $4.48 annualized dividend and a yield of 2.59%. Ares Management's payout ratio is 263.53%.
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.
See Also
Want to see what other hedge funds are holding ARES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ares Management Corporation (NYSE:ARES - Free Report).
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