Nuveen Asset Management LLC Buys 7,451 Shares of Ares Management Co. (NYSE:ARES)

Nuveen Asset Management LLC lifted its position in Ares Management Co. (NYSE:ARES - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 385,303 shares of the asset manager's stock after acquiring an additional 7,451 shares during the quarter. Nuveen Asset Management LLC owned 0.12% of Ares Management worth $68,210,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ARES. Transce3nd LLC purchased a new position in shares of Ares Management during the fourth quarter worth approximately $29,000. Johnson Financial Group Inc. increased its position in shares of Ares Management by 104.8% during the fourth quarter. Johnson Financial Group Inc. now owns 170 shares of the asset manager's stock worth $30,000 after purchasing an additional 87 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Ares Management in the fourth quarter valued at about $36,000. Avalon Trust Co purchased a new position in shares of Ares Management in the 4th quarter valued at approximately $53,000. Finally, Private Trust Co. NA lifted its stake in shares of Ares Management by 43.0% during the fourth quarter. Private Trust Co. NA now owns 336 shares of the asset manager's stock worth $59,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 50.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays upped their price target 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. The Goldman Sachs Group reduced their price objective on shares of Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. JMP Securities lifted their price target on Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 8th. 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 report on Friday, April 4th. Finally, Oppenheimer cut shares of Ares Management from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.50.

Ares Management Trading Down 1.6%

NYSE:ARES traded down $2.66 during trading hours on Tuesday, hitting $165.98. 1,984,089 shares of the stock were exchanged, compared to its average volume of 1,426,662. The company has a market capitalization of $54.21 billion, a P/E ratio of 81.76, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.53. The company's 50 day moving average is $148.97 and its two-hundred day moving average is $167.64.

Ares Management (NYSE:ARES - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. Ares Management had a return on equity of 16.64% and a net margin of 11.35%. The business had revenue of $951.96 million for the quarter, compared to the consensus estimate of $914.00 million. During the same quarter last year, the business posted $0.80 EPS. On average, sell-side analysts anticipate that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $4.48 annualized dividend and a dividend yield of 2.70%. Ares Management's dividend payout ratio is presently 263.53%.

Insider Buying and Selling at Ares Management

In other news, 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 completion of the sale, the insider now owns 30,474 shares in the company, valued at $4,906,009.26. The trade was a 69.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael J. Arougheti sold 182,108 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $170.07, for a total value of $30,971,107.56. Following the transaction, the chief executive officer now directly owns 350,684 shares in the company, valued at $59,640,827.88. The trade was a 34.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 685,180 shares of company stock worth $113,177,573 over the last 90 days. Company insiders own 36.86% 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.