Osprey Private Wealth LLC Boosts Stock Position in Ares Management Co. (NYSE:ARES)

Osprey Private Wealth LLC boosted its holdings in shares of Ares Management Co. (NYSE:ARES - Free Report) by 23.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,215 shares of the asset manager's stock after buying an additional 6,390 shares during the period. Ares Management makes up about 3.0% of Osprey Private Wealth LLC's holdings, making the stock its 14th largest holding. Osprey Private Wealth LLC's holdings in Ares Management were worth $5,016,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Ares Management during the fourth quarter valued at about $335,858,000. Charles Schwab Investment Management Inc. raised 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 valued at $126,622,000 after purchasing an additional 32,273 shares in the last quarter. Soros Capital Management LLC purchased a new stake in Ares Management during the fourth quarter valued at about $10,144,000. Asset Management One Co. Ltd. raised its position in Ares Management by 4.8% during the fourth 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 in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Ares Management by 34.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,622 shares of the asset manager's stock valued at $5,067,000 after purchasing an additional 7,300 shares in the last quarter. Institutional investors own 50.03% of the company's stock.

Insider Activity at Ares Management

In other Ares Management news, CEO Michael J. Arougheti sold 110,845 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the transaction, the chief executive officer now owns 1,400,000 shares in the company, valued at approximately $214,438,000. This represents a 7.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bennett Rosenthal sold 85,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $168.79, for a total value of $14,347,150.00. The disclosure for this sale can be found here. Insiders have sold a total of 983,990 shares of company stock worth $163,182,482 in the last 90 days. Company insiders own 36.86% of the company's stock.

Ares Management Trading Down 2.5%

NYSE:ARES traded down $4.26 during mid-day trading on Friday, reaching $166.55. 1,143,306 shares of the company's stock traded hands, compared to its average volume of 1,431,400. Ares Management Co. has a 12-month low of $110.63 and a 12-month high of $200.49. The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 82.04, a PEG ratio of 1.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day moving average price of $156.86 and a 200-day moving average price of $167.23.

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

Ares Management Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $1.12 per share. 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 2.69%. Ares Management's dividend payout ratio is presently 263.53%.

Analyst Upgrades and Downgrades

ARES has been the topic of a number of research reports. JMP Securities raised their price target 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. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a report on Monday, April 14th. TD Cowen decreased their price objective on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Citizens Jmp upgraded Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a report on Tuesday, April 8th. One 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $174.94.

About Ares Management

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.