Parallel Advisors LLC Purchases 8,325 Shares of Ares Management Co. (NYSE:ARES)

Parallel Advisors LLC raised its position in shares of Ares Management Co. (NYSE:ARES - Free Report) by 454.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,157 shares of the asset manager's stock after purchasing an additional 8,325 shares during the quarter. Parallel Advisors LLC's holdings in Ares Management were worth $1,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Ares Management by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 18,807,718 shares of the asset manager's stock valued at $3,329,530,000 after purchasing an additional 907,757 shares during the last quarter. Capital World Investors raised its position in shares of Ares Management by 2.1% during the fourth quarter. Capital World Investors now owns 10,753,779 shares of the asset manager's stock worth $1,903,741,000 after purchasing an additional 223,919 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Ares Management by 0.4% in the 4th quarter. JPMorgan Chase & Co. now owns 8,277,879 shares of the asset manager's stock valued at $1,465,433,000 after purchasing an additional 33,700 shares during the period. FMR LLC raised its holdings in Ares Management by 12.8% during the 4th quarter. FMR LLC now owns 7,109,070 shares of the asset manager's stock worth $1,258,519,000 after buying an additional 807,361 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Ares Management by 1.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,126,442 shares of the asset manager's stock worth $907,534,000 after acquiring an additional 66,671 shares in the last quarter. 50.03% of the stock is owned by institutional investors.

Insider Activity at Ares Management

In other Ares Management news, insider David B. Kaplan sold 23,524 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $165.06, for a total value of $3,882,871.44. Following the sale, the insider now owns 33,145 shares of the company's stock, valued at $5,470,913.70. The trade was a 41.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ashish Bhutani bought 10,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $141.33 per share, for a total transaction of $1,413,300.00. Following the completion of the transaction, the director now owns 22,905 shares in the company, valued at $3,237,163.65. This represents a 77.49% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 832,700 shares of company stock worth $137,889,527. Company insiders own 36.86% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ARES. Morgan Stanley cut their target price on shares of Ares Management from $197.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. JMP Securities raised their price target on shares of Ares Management from $165.00 to $185.00 and gave the stock a "market outperform" rating in a report on Thursday, May 8th. Citizens Jmp upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Bank of America cut their target price 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. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $174.94.

Ares Management Stock Up 1.0%

Shares of NYSE:ARES traded up $1.74 on Tuesday, reaching $168.53. The company had a trading volume of 1,279,870 shares, compared to its average volume of 1,426,394. 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 stock has a market capitalization 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. The stock has a 50-day moving average price of $151.97 and a 200 day moving average price of $167.30. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The asset manager reported $1.09 EPS for the quarter, beating 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 company 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 company posted $0.80 earnings per share. On average, equities analysts expect that Ares Management Co. will post 5.28 EPS for the current year.

Ares Management Dividend Announcement

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

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.