Royal Bank of Canada Has $98.09 Million Stock Holdings in Ares Management Co. (NYSE:ARES)

Royal Bank of Canada raised its position in Ares Management Co. (NYSE:ARES - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 554,086 shares of the asset manager's stock after acquiring an additional 57,113 shares during the period. Royal Bank of Canada owned about 0.18% of Ares Management worth $98,089,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Prana Capital Management LP bought a new stake in shares of Ares Management in the 4th quarter valued at approximately $25,097,000. Quantinno Capital Management LP boosted its position in Ares Management by 14.0% in the 4th quarter. Quantinno Capital Management LP now owns 18,743 shares of the asset manager's stock valued at $3,318,000 after buying an additional 2,302 shares during the last quarter. Man Group plc lifted its stake in shares of Ares Management by 39.2% in the 4th quarter. Man Group plc now owns 26,400 shares of the asset manager's stock valued at $4,674,000 after purchasing an additional 7,432 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Ares Management by 2.2% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 22,777 shares of the asset manager's stock valued at $4,088,000 after purchasing an additional 484 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Ares Management by 2.0% in the 4th quarter. Nuveen Asset Management LLC now owns 385,303 shares of the asset manager's stock valued at $68,210,000 after purchasing an additional 7,451 shares during the period. Institutional investors and hedge funds own 50.03% of the company's stock.

Insiders Place Their Bets

In other Ares Management news, insider David B. Kaplan sold 69,526 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $160.99, for a total transaction of $11,192,990.74. Following the completion of the transaction, the insider now directly owns 30,474 shares in the company, valued at $4,906,009.26. The trade was a 69.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ashish Bhutani acquired 10,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $141.33 per share, with a total value of $1,413,300.00. Following the completion of the transaction, the director now owns 22,905 shares of the company's stock, valued at approximately $3,237,163.65. This represents a 77.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 685,180 shares of company stock worth $113,177,573 over the last three months. Insiders own 36.86% of the company's stock.

Analysts Set New Price Targets

ARES has been the topic of a number of analyst reports. Oppenheimer downgraded Ares Management from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. TD Cowen cut their price target on Ares Management from $216.00 to $161.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. JMP Securities increased their price target on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 8th. Wolfe Research set a $193.00 price objective on Ares Management and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company raised their price objective on Ares Management from $156.00 to $182.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. One research 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. According to MarketBeat, Ares Management presently has an average rating of "Moderate Buy" and a consensus target price of $174.50.

Ares Management Price Performance

ARES stock opened at $168.56 on Tuesday. The stock has a 50-day moving average price of $148.97 and a two-hundred day moving average price of $167.64. The stock has a market cap of $55.05 billion, a PE ratio of 83.03, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.53. Ares Management Co. has a 1 year low of $110.63 and a 1 year high of $200.49.

Ares Management (NYSE:ARES - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The asset manager reported $1.09 earnings per share 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 during the quarter, compared to analysts' expectations of $914.00 million. During the same quarter last year, the company earned $0.80 EPS. Equities analysts forecast that Ares Management Co. will post 5.28 EPS for the current fiscal year.

Ares Management Announces Dividend

The business 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 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 yield of 2.66%. Ares Management's dividend payout ratio (DPR) is presently 263.53%.

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.

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